Middle East Professionals Embracing Bitcoin

As the fervor for cryptocurrencies climbs to a crescendo in Europe and the US, the countries of Asia remain mixed. Nations of the Middle East, however, are also eager to take a ride on the digital train and Dubai, in particular, is witnessing a boom in crypto trading.

Young professionals are taking to cryptocurrencies in droves, all eager to invest for the future and profit from the recent price surges. Bitcoin has had a wild ride over the past week or so, starting out last Monday at just over $11,000. From there, to coin a phrase from crypto groups on social media, it shot for the moon and reached an all-time peak of $18,200 late Friday.

Talk of bubbles and the imminent launch of futures contracts by the Chicago Board Options Exchange on Sunday caused 25% to be shaved off of Bitcoin’s price in just 48 hours. It has since rallied, as Bitcoin is wont to do, and is trading at $16,700 at the time of writing. Savvy investors in Dubai have been doing their homework and a number of them, including trader Ibrahim Barbor, got in at the sweet spot in February when BTC was priced around $1,100…

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