Western Union responds to Bitcoin buzz, sort of
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Bitcoin watchers say the virtual currency could displace Western Union as a way to transfer money from place to place. Hereโ€™s what Western Union says about that.

In the hoopla over Bitcoin, some suggest the virtual currency will challenge Western Union as a way for consumers to transfer money between countries. The theory got another boost this week when a report by a Bank of America currency strategist noted Bitcoinโ€™s โ€œclear potential for growthโ€ and observed that Bitcoinโ€™s market cap (see note below) already exceeded that of Western Union.

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