Although the future of digital currency as a market was seen as premature, industry observers based in Europe were still optimistic for Bitcoin.

Shakil Khan of digital news and analysis agency CoinDesk said, "I'm looking more forward to the next wave of companies. There are teams of entrepreneurs with tier-A VCs, with lawyers, with regulators, sitting in rooms around the world, thinking how do we launch the next generation of digital currency companies. I think that's where the opportunity is. We're still very very early in this journey."

Michael Jackson of Mangrove Capital Partners see the digital currency thriving in Europe. "The good thing in Europe is that we have 29 different countries with 29 different legislations. There will always be a European country with a sensible legislation for Bitcoin startups to operate," Jackson said, obviously referring to the Silk Road black market scandal.

Silk Road was operated as an auction plaltform for buying and selling illegal drugs. The US Federal Business of Investigation had seized a total of 173,991 Bitcoins valued at over USD33.6 million in connection with Silk Road.

Khan, on the other hand, saw a great opportunity for digital currency to be picked up in China. "Chinese television has been showing a number of short programs about Bitcoin. Let's recognize that Chinese television is state-run television. So you start seeing the education process taking place there - and that's been very good."