Post
Topic
Board Bitcoin Discussion
Re: Merchants that accept Bitcoin and settle in USD are driving the price down
by
Raghnar
on 10/01/2014, 11:32:26 UTC
Yes when someone buys something with BTC, it gets converted back to USD in many cases but how do you think they get the BTC in the first place?  They usually have to buy it, which drives the price up.

And the point is that they more people who are using BTC, the more people are holding it at any one time and that means less supply on the market and higher BTC prices.