Nevermind the double-digit price swings. Despite the day-to-day roller coaster ride of crypto markets, spiking demand in China and Argentina point to a pivot point for the largest digital currency – from risky bet to safe store of value. According to Hong Kong-based Babel Finance, Chinese demand for bitcoin has surged 50 percent in the past ten days. Analysts point to the decision by the People’s Bank to let the Yuan fall below $0.14 last week. The currency in the world’s second-largest economy has now depreciated to levels not seen since the global financial crisis. Meanwhile, data from Localbitcoins.com show ... (full story)