Alot of the investment happening can be attributed to currency fluctuations as well... Those very countries that pay a higher cash value for BTC are typically countries that are having instability in their currency. The Libyan Dinar is a great example
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Great point. There are many factors that I didn't include in this piece, that being one of them. The arbitrage angle was an interesting one in my opinion. The leading market will eventually drag the others up...