Bitcoin Hits New Record High As Warnings Grow

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Bitcoin blasted to another all-time high of just over $17,750 on Friday, up 8 percent on the day, as concerns grew over the risks of investing in the highly volatile and speculative instrument.

Bitcoin has climbed more than 77 percent so far in December alone, putting it on track for its best month in percentage terms since December 2013. Read more at REUTERS.

{Matzav.com}

2 COMMENTS

  1. Is this coin regulated? Is it legal currency here in America? Can I use it to pay when I go to my local grocery? What value does it have other than, I’m holding one in my hand? A block of gold, I can at least turn it into something. I can make a beautiful piece of jewelry. What can one do with a little coin of Bitcoin? Why should it be worth any more than a fidget spinner? Something is not adding up.

    • Can you make “a beautiful piece of jewelry” out of dollar bills? What difference does the legal currency status make if the market doesn’t want it enough? Obviously, the only parameter that matters is how much goods and services other people are willing to provide for your valuables. Bitcoin is probably overpriced and about to experience a major market correction due to some traders’ machinations, but that doesn’t disprove a concept of the non government issued electronic money, as it can happen to the government issued currency also, e.g. Soros messing with a British pound. At least there can only be a maximum number of Bitcoin issued and each transaction is transparent, while a shady government may steal our money simply by devaluing through the printing press.

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