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Title : Crypto News: Will bitcoin ever be a safe investment or always a gamble?
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Crypto News: Will bitcoin ever be a safe investment or always a gamble?

The boss of JP Morgan was unequivocal about bitcoin at a recent conference in New York: the digital currency was only fit for drug dealers and would eventually blow up. “[It] isn’t going to work,” said Jamie Dimon. “You can’t have a business where people can invent a currency out of thin air and think that the people who are buying it are really smart.”

A few days after Dimon’s comments, the value of bitcoin plunged when the Chinese authorities announced a crackdown on it. It has been an eventful month, even in the context of a currency that is less than a decade old. Since the start of the year the value of a single bitcoin has gone from $1,000 (£750) to almost $5,000.

The spiralling price of the cryptocurrency, along with the controversy it has attracted in the past few weeks, has meant that interest from buyers has peaked and more consumers are considering whether to invest – or gamble, as some commentators say – in it.

“We continue to see a rise in demand for bitcoin and other cryptocurrencies,” says Obi Nwosu of Coinfloor, an exchange where people can buy and trade bitcoin. “When senior leaders in the financial community, regulators and government bodies share their views about bitcoin, it further raises interest and awareness in the market.”

Full story at http://bit.ly/2wsl4o5

Source: The Guardian

 

 

 

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