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Over the last number of weeks, everybody been recently weighing in about Bitcoin, the digital currency that may be the money of the future, or a bubble bursting right in front of us. After being worth only $30 in March, on Wednesday, Bitcoin reached an historical high of $266, then plummeting to over $100 in lots of hours, and now stabilizing around $120. When Bitcoin’s price started to increase unexpectedly, it was crowned the one thing everybody in Silicon Valley was talking of. (For those who don’t know what Bitcoin is, this video explains it perfectly in 3 minutes).

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JK: I am think people are hedging from the euro with Bitcoin. The crisis brought a lot more attention and exposure to Bitcoin. People found out about Bitcoin because of the euro crisis, but discussing flooded by people from Cyprus trying to get bitcoins, therefore it is not a primary correlation.

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JK: I said I wouldn’t back again into it unless we the technical side taken care of, the legal side as well as the money behind it. We hired 7 lawyers to deal with the legal side, and convinced Miron Cuperman who worked on PCI compliance at Google, to join as the CTO. He was a really big fan of Bitcoin and he’s working for all of us full time now, he’s pretty tremendous. Having him really convinced me it was worth buying. We also raised 400, 000 in seed money and right now most of individuals are not implementing a salary, so we’re working really difficult on the idea.

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JK: As it evolves and it’s more real, you will see more competition, having said that i got a associated with support when there was problems last year, I made a lot of great friends like Charlie Shrem from BitInstant. Currently it’s true that some people hate each other, but we all in order to see it achieve. When something bad happens can make the whole place look bad, so that reflects on every one of us.

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