Bitcoin Vs AUD as at 16 June 2016

I heard about Bitcoin around 2012 but I just sat and waited to see if I would hear more of it. 

I really got interested about Bitcoin when I heard an interview of an entrepreneur starting a business providing Bitcoin services and his reasons for why it is a good currency. 

Bitcoin is a long term play for me. By long term, I mean one, two or three decades. It is not something I want to trade on a weekly, let alone daily basis. The spreads are too far apart in relation to its daily movements. 

I went long the Bitcoin last September when it was around $350 AUD, and kept adding on to my position. Now it is $1000 AUD. 

I had a quick scan of the headlines to see what is happening with it. Apparently, Microsoft now accepts bitcoin.

"It can be used to buy apps, games, and other digital content from Windows, Windows Phone, Xbox Games, Xbox Music, or Xbox Video stores. Be aware, that Money added to the Microsoft account using Bitcoin cannot be refunded.(Source: accessed: 16/6/2016)

Mozilla accepting Bitcoin. Paypal is in its first step to integrate Bitcoin. Wikimedia Foundation accepts Bitcoin. AirBaltic is the World's first airline to accept Bitcoin. Dell partners with Coinbase to accept Bitcoin. 

When I get the time, I would like to write an article or a post about why I think Bitcoin is a good thing and so, well worth your time to invest or trade in it.

Image source:; Last accessed: 16/6/2016.

Bitcoin vs AUD as at 16 June 2016. Weekly Chart.