At the recent web Summit in Dublin, I caught up with Moe Levin, Director of European business Development atBitPay, an American company that provides payment services for the peer-to-peer virtual currency Bitcoin.

Levin, who has organised Bitcoin conventions in North America and Europe, told me the latter is by far BitPay's fastest-growing market for merchants adopting Bitcoin. That's an interesting statement given that BitPay is one of, if not the largest Bitcoin payment service provider in the world today, working with the likes of Microsoft and PayPal.

BitPay is also one of the Bitcoin companies that investors have bet heavily on – the company has raised more than $32.5 million to date, from backers like Index Ventures and Horizons Ventures.

Levin and I discussed BitPay's growth in and plans for Europe, as well as the overall global adoption and penetration of Bitcoin these days (and the hurdles it needs to overcome for more of that).

Video: Moe Levin on Bitcoin in Europe