The initial price of Bitcoin, set in 2010, was less than 1 cent. It crossed $19,000 last month.
Since then, events have reminded the world that it’s wild ride involves downs as well as ups, as it fell to about $11,400. The ups have been driven by investors anxious to get in on the best-established cryptocurrency as new trading opportunities nudge it toward the mainstream.
South Korea’s plan to ban cryptocurrencies contributed to the recent slump. News of a
heist of $500 million worth of a different digital currency called NEM in Japan isn’t likely to help.
This may also prompt regulators around the globe to rethink their rules. It’s a form of money that’s remarkable for what it’s not: It’s not currency you can hold in your hand.
It’s not recognized by most Main Street stores. It’s not issued or backed by a national government. Read more from bloomberg.com…
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