Bitcoin Domain-Name Prices Defy Drop in Virtual Currency’s Value
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Bitcoin’s 46 percent decline in the value since its December peak hasn’t damped a surge in prices for Internet domain names related to the virtual currency.
Entrepreneur Niko Younts said he sold the BitcoinWallet.com name in January for $250,000 -- 23 times what he paid a month earlier. Investors buying bitcoin-related Web addresses in hopes of a fast resale are fueling a domain-name boom. Some 3,290 names ending with .com or .net and containing “bitcoin” have been registered since May 12, according to Verisign, which operates a registry for those top-level domains.