Bitcoin Set to Overtake eBay's PayPal in Transaction Volumes

California-based hedge fund Laureate Trust says that bitcoin is fast establishing itself as the currency to use globally and instantly to make purchases or payments over the internet recording nearly $300m (£178m, 220m) daily in transactions.

"Whenever you have an instrument that trades over 300 million US dollars a day, it must be recognized," Peter Tasca, CEO of Laureate Trust, said in a statement.

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Laureate manages a $5bn fund with investments in trade stocks, bonds and option contracts in over 100 regulated market exchanges.

In February, the hedge fund issued a "speculative" buy rating on bitcoin after the digital currency had survived two crashes causing a 70% drop in value within a few months.

http://www.ibtimes.co.uk/bitcoin-set-overtake-ebays-paypal-transaction-volumes-1449856