investment in January 2016 (Metz, 2016). While that percentage may seem small, it is growing 
as Bitcoin becomes more accepted as a currency. 
One thing the public expects from a currency is being able to easily spend it. Bitcoin 
made strides in that area when Coinbase introduced the country’s first bitcoin debit card. The 
company reported that more than 7,500 people signed up for the card within two months of its 
launch (Metz, 2016). In addition to making it easier for users to spend their Bitcoin, it will also 
help push more businesses to accept Bitcoin. By accepting Bitcoin outright, they can benefit 
from lower service fees than from the Bitcoin debit card.
In April 2016, another important step toward the legitimacy of Bitcoin occurred when 
Bitstamp, a btc to eth  exchange, was granted a payment institution license in Luxembourg. This 
license allows Bitstamp to operate in all European Union countries under the EU’s “passport” 
program. According to the exchange’s cofounder and chief executive Nejc Kodrič, “‘[w]e 
believe that this is stability-inducing — that people will see this as a sign of Bitcoin going 
mainstream’” (Shin, 2016). The recognition of Bitcoin as a true currency by European 
governments will only encourage more people to utilize it. This will increase demand and 
therefore the currency’s value.
In addition to being used as a currency, Bitcoin’s blockchain technology is being utilized 
in other ways. “[A] group of tech and finance giants—IBM, Intel, Cisco, the London Stock 
Exchange Group, JP Morgan, Wells Fargo, and others—teamed up to create Hyperledger, an 
open source project inspired by Bitcoin that the companies hope will one day provide a more 
secure and reliable way of trading stocks and other assets” (Finley, 2016). For example, IBM 
says that disputes over tax rates or incorrect shipments take an average of 40 days to resolve 
today. With Hyperledger, the hope is this process can be streamlined (2016). Such lar

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