It is not very clear whether the Bitcoin virtual currency is a real currency capable of replacing state money. Experts still argue about its future and there are strong suspicions that this is yet another bubble just like e-economy a few years ago, for example. Authorities remain cautious in relation to this new means of payment and this attitude is fully justified, as Bitcoin is not a subject to currently applied measures for regulation and control, and is not subject to the laws of forex markets. All this does not stop Bitcoin from gaining more and more popularity and new opportunities for using it emerge in the global web every day. This is actually just one type of electronic money that does not have paper or plastic equivalent and which is used for commercial transactions and purchases.  
 
Bulgaria has not remained behind this trend. In early summer the Bulgarian Bitcoin Association was created. Its members are individuals and a number of companies. It aims at promoting, legalizing and encouraging the spread of this new means of payment. One of the founders is Pavel Chorbdzhiiski, who is a lifetime member of the Bitcoin Foundation and has been actively involved in the development of the virtual currency since 2011. According to him, BBA will bring together supporters of the virtual currency and will help the state in accepting and integrating Bitcoin use with legislation. The Association will be also protecting the rights of users of Bitcoin, and other crypto currencies.  
 
Bitcoins, however, are hard to find. One cannot go to the bank or exchange office and buy digital money. This task remains a technological feat for most people that require a lot of knowledge and skills in handling software and high-quality hardware. Fans and investors in the digital currency in Bulgaria have found a solution to this problem and installed the first Bitcoin ATM in Sofia. For a month of operation, the device has sold virtual money totalling 5,500 euro.  
 
Bitcoins are becoming more readily available, but still have a limited scope of application. A number of countries around the world, and the largest online shops are still cautious about the internet money and are not too eager to start using them. This caution and conservatism are also observed in Bulgaria, where traders who work with Bitcoin remain few. But the important thing is that they exist – some 50 restaurants, stores, hotels, etc. already use bitcoins. The traditionally conservative Ministry of Finance even considered it necessary to warn traders that they owe taxes on income realized from Bitcoin trading.  
 
Bulgaria is a small country and Bitcoin is a global currency. Its fate in this country will therefore depend on major markets and investors, for whom the past five years of existence and development of Bitcoin have not been a strong signal for investing their trust and thus boosting its development.

English: Alexander Markov