Forex Flash: Bitcoin resurgence following central bank QE? – Deutsche Bank

FXstreet.com (Barcelona) - According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “With the recent focus on global QE and potential competitive devaluations, it's interesting to see the resurgent interest in Bitcoin, a virtual currency. Events in Cyprus have led to a buying frenzy, which has sent the value of Bitcoin's monetary base to $1.5bn, while the price of the single Bitcoin has doubled in less than two weeks.”

The currency was created 4 years ago by an unknown computer scientist and the stock of "coins" grows according to a predetermined algorithm. Proponents of Bitcoin note that it is not controlled by any central bank or government authority.