Bitcoin Can More Than Double to $5000 Says Research Firm

The anonymous digital currency Bitcoin could more than double in price to $5000, claims Standpoint Research.

Now the transaction method of choice for the online gambling sector with Bitcoin-only websites seemingly cropping up on a near weekly basis, the currency traded near $2,600 Wednesday, according to CoinDesk.

Standpoint Research founder Ronnie Moas told CNBC the digital currency could rise to $5,000 "in a few months."

He notes: “This is not something I could keep my hands off of.”

- Aaron Goldstein, Gambling911.com