Bitcoin price is down but adoption is gathering pace

Our friends at CoinDesk have just published the State of Bitcoin Q1 2014 presentation embedded below. At first glance it hasn’t been a good year for Bitcoin so far: the price is down 37% year-to-date (along with a couple of people in the office I bought a month or two back on a dip, but alas it has dipped further since then) and the collapse of MtGox and other news stories have been overwhelmingly negative. The more important fact for me is that adoption is growing. 63,000 businesses now accept Bitcoin and the Social + Capital Partnership is forecasting 7.3m wallets by the end of the year, up from c2m at the beginning. That’s not hyper-growth, but it’s very solid.

I’m holding.