Bitcoin popularity grows throughout the Scenic City

CHATTANOOGA, Tenn. (WDEF) – The value of Bitcoin is skyrocketing. In just two months, it’s worth has increased over ten thousand dollars.

And it’s popularity is growing, even in the scenic city.

Once a month Bob Biles holds a group meeting with people interested in learning about bitcoin and other cryptocurrences.

He started the meetup group, the Chattanooga Bitcoin Group, three years ago.

Biles said, “I started it up because it looked like Bitcoin was going to be a very significant event, and it’s turned out to be very significant.”

On Wednesday, one Bitcoin was worth over $15,000 dollars.

Though bitcoin has been around for nearly ten years, only recently has it increased in value as more people are buying into the digital money.

“Just look at it as a digital asset. Look at it as a stock or bond. Because like I said, the volatility of the coin now is to treat it as an asset.”

Stephen Allsion is a cryptocurrency consultant.

He explains that Bitcoin is just one of several cryptocurrencies. Which means it is a type of money that isn’t necessarily fully adopted as a currency.

Some online stores actually accept Bitcoin as payment. One being at the Denver Airport, you can use them to pay for parking.

He says, “We’re on the uptick now, where more people are starting to understand about Bitcoins, so it will be something that’s adopted in my opinion. Mainstream, eventually.”

The easiest way to obtain cryptocurrancies is to exchange your dollars online.

As for Biles, he says as Bitcoins have become more popular, so has his meetings, with more people starting to attend.

To join the Chattanooga Bitcoin Group or learn more, click here.