BUSINESS

There’s Is No Coin Like Bitcoin — It Bubbleth Over

Bitcoin has passed $30,000 in value for the first time, continuing a recent sharp rise and bettering its heady days of 2017 $20,000 high.

The virtual cryptocurrency max out at the close of the week at $30,823.30.

Bitcoin has had a rollicking year with more and more investors showing interest in the crypto.

Some financial analysts are betting that the price will increase even further as uncertainty continues within the markets.

The cryptocurrency has garnered growing support as a form of payment online, with PayPal among the most recent adopters of digital currencies.

But the cryptocurrency has also proved to be a volatile investment hitting extreme lows below $3,300 previously.

Last year, in a press report, Bank of England Governor Andrew Bailey expressed caution over the use of Bitcoin as a payment method.

“I have to be honest; it is hard to see that Bitcoin has what we tend to call intrinsic value,” he said. “It may have extrinsic value in the sense that people want it,” said Bailey.

Readers Bureau , Contributor

Edited by Jesus Chan

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