September 26, 2014 - In This Issue:

Tim Draper Predicts $10,000 Bitcoin in Three Years

One of the most interesting topics when it comes to the price of bitcoin is the predictions that individuals make. Some are investors, and others have no idea what they're talking about. Some predict a $1 bitcoin in X amount of years, others predict a $1 million bitcoin.

But investor Tim Draper? He's looking at a $10,000 bitcoin in a three-year time period.


That's according to an interview he did this week on the FOX Business network this week - echoing a similar statement he made on the 12th of September:


Tim Draper is with Draper Fisher Jurvetson, which has invested in a number of high-profile companies like Twitter, Tesla, Tumblr, and SpaceX. He became well known in the bitcoin community this year for his acquisition of the Silk Road bitcoins that were put up for auction by the United States Marshals Service.


Those bitcoins, over 29,000 of them, were worth over $18 million at the time of the auction. The price of bitcoin has, of course, gone down a bit since that time.


Reggie Middleton On Why Bitcoin Is Valuable

Reggie Middleton is bullish on bitcoin.


Middleton is the founder and editor of the BoomBustBlog, and he recently joined Benzinga's #PreMarket Prep to talk about what he called the true value of bitcoin.


"What bitcoin is now is what the Internet was in 1993," Middleton said.


Middleton said he owns very little actual bitcoin.


The value of bitcoin is in the technology that

allows you to program money, Middleton said, just like a computer code.

Related Link: 'Day Trading For Dummies' Author Talks RadioShack Corporation, American Apparel Inc


"So you can take Bitcoin and you can program it to do anything you can conceptualize basically, and the currency obeys the programming," he said.


BitFlyer Deal Brings Bitcoin Option to 48,000 Online Stores in Japan

GMO Payment Gateway (GMO-PG) has partnered with bitFlyer to provide its 48,000 online merchants the option to accept bitcoin starting later this year.


Founded in 1995, GMO-PG specializes in providing payment services to e-commerce platforms and mobile content providers. Data from Forbes suggests that the company, a subsidiary of the larger GMO Internet, nets $61m in annual sales and has a market capitalization of $374m.


BitFlyer CEO Yuzo Kano framed the partnership as a "business-and-capital alliance" that will result in the creation a first-of-its-kind bitcoin settlement service in Japan, while creating a safer and more convenient domestic e-commerce environment.


GMO-PG currently has more than 48,000 merchant customers, all of which will have the ability to start accepting bitcoin this November when the payment method will be fully enabled.


In addition to its partnership with bitFlyer, GMO-PG has also made an undisclosed investment in the Japan-based bitcoin exchange. BitFlyer previously raised $1.6m in July with the goal of becoming the leading player in bitcoin's now-burgeoning market in Japan.


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Bitcoin economy spreads its wings

 Earlier this year, Mary Fons joined the Bitcoin Economy. She uses the digital currency to buy gift cards and office supplies. Her partner reimburses


Fons with bitcoin for his portion of the rent.

Unlike many of the currency's early adopters, Fons isn't a nerd or self-declared libertarian. She is 35, lives in New York and co-hosts the "Love of Quilting" show on public television.


"Why bitcoin?" she said. "Because I want to have options. I think it's a beautiful thing open to everyone."


Fons has company. People worldwide have opened 41 million bitcoin accounts, according to the Bank of England. While the total value of bitcoin commerce isn't known, Gil Luria, an analyst at Wedbush Securities Inc., estimates global spending on goods and services has doubled in the past year.


Parents are dispensing allowances in bitcoins so their kids learn to be digital citizens. Marijuana smokers are buying buds from bitcoin-enabled vending machines. Consumers in emerging markets such as Brazil and Russia are starting to use bitcoin to hedge against currency volatility.


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