Is It Time to Look Again at Bitcoins?

Is the soaring value of Bitcoin an investment opportunity – or a dangerous bubble?

Emma Simon 29 June, 2017 | 8:41AM

Frenzied demand for bitcoins has pushed the price of this digital currency to record highs. For the first time the price of one bitcoin overtook the price of an ounce of gold in June.

This is quite an astounding figure, when you consider that people have been trading and investing in gold for centuries. In comparison, the bitcoin was launched less than 10 years ago.  But according to figures from Google Finance, the price of bitcoins has rocketed by a staggering 5,000,000% since 2010.

This upward trajectory has become turbo-charged in the last few months, largely been due to increased demand from buyers in Japan, Korea and other parts of Asia.

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About Author

Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for Morningstar.co.uk

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