Top Global Bitcoin Supplier Shuts Down
Demand expected to increase as a result
Without warning, top bitcoin supplier Circle discontinued selling bitcoin through both their mobile application and their website. The only indication given as to the possible reason for this action is the notice posted for all would-be buyers which reads, "Continue to buy and sell bitcoin with our preferred partner, Coinbase."
Many sources speculate that this message indicates a deal has been made between Coinbase and Circle or that Circle has been bought out by Coinbase, however no full explanation has yet been given. Digging through the help desk of Circle only reveals the following message:
"Note: You can no longer buy and sell bitcoin through us."
Considering Coinbase's long history of questionable conduct and unexplained account terminations many former Circle customers are outraged at the newly established Coinbase monopoly over the American bitcoin "buy-with-credit-card" market.
To further compound matters surrounding Circle, complications surrounding the buying of bitcoin in America from the recent IRS crackdown on Coinbase users is likely to drive the demand (and price) of bitcoin upward.