Tuesday, November 07, 2017

Hedge Funds Push the Price of Bitcoin to New Highs - The New York Times

What could possibly go wrong?...

"The price of a single Bitcoin climbed from below $6,000 two weeks ago to above $7,400 on Monday, more than it moved in the virtual currency’s first seven years in existence.

Since the beginning of the year, the value of Bitcoin has jumped over 600 percent, putting the combined value of all Bitcoin at about $120 billion, or more than many of the largest banks in the world.

The rise has been fueled by several factors, including the sudden interest in virtual currencies from small investors in Japan and South Korea."
Hedge Funds Push the Price of Bitcoin to New Highs - The New York Times
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