Financial forecasting firm accepting Bitcoins

Bitcoin users and investors can now use the cryptocurrency to purchase financial forecasts and market analysis.

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Financial forecasting firm accepting Bitcoins

Bitcoin users and investors can now use the cryptocurrency to purchase financial forecasts and market analysis.

Elliott Wave International, based out of Gainesville, Georgia, announced last week that readers and subscribers could get access to the company’s publications via Bitcoin payments.

In a statement, Elliott Wave International noted that it had been covering Bitcoin in its writings since September 2010, “when it was off most people’s radar and trading for pennies.”

"Bitcoins have the necessary features of money: medium of exchange (anonymous and across great distances), unit of account (private), divisibility (up to eight decimal places), scarcity (21 million), portability (transferred electronically), and store of value (current exchange rates – as of August 2010 – show 1 Bitcoin, or BTC, equal to 0.065 USD)," the company published at the time.

The company’s founder, Robert Prechter — author and proponent of the Elliott Wave Principle of technical analysis — wrote back in 2012 that Bitcoin’s value would rise (“it should rise many more multiples in value over the years”) significantly, back when the currency was trading for $8.

The company also noted that it would be using BitPay to process transactions. BitPay, another Georgia-based company, has been on a successful run as one of the go-to payment processors in the Bitcoin economy, locking down Zynga earlier this month as a client.

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