From December 2012 to December 2013, the price of Bitcoin has gone up an astronomical 9,100%. Any currency capable of that popularity and upswing begs the question, if people start using it en masse, what is the impact of Bitcoin on the U.S. dollar?
One thing is clear: Our government is concerned about the growing acceptance of this virtual currency...
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I strongly believe that everyone should own some physical gold. It's been the store of value, and the preferred method of asset protection for more than 5,000 years. It's irreplaceable.
But I also believe that every investor ought to own at least some of the new digital money known as bitcoin.
You see, most of the people buying bitcoin are interested in the explosive growth potential the new "currency" offers, as more and more retailers, CEOs, and governments embrace it.
But they're getting more than that.
Bitcoin comes with some unique wealth preservation properties, too. And while it will never replace the market's most popular hedge,
By now most people have heard about Bitcoin, the digital currency that has zoomed from just pennies a few years ago to over $1,000 in the past couple of months. But as with many paradigm-shifting tech stories, the conventional media often repeat commonly held misconceptions, and some things they just flat out get wrong.
We live in an age of numbers, and they tell stories worth a thousand pictures. Here's are 10 of the most fanciful, bizarre, infuriating, and compelling ones this week:
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Bitcoin is becoming so accepted that almost anything can be bought with the digital currency. And you don't need any fancy technological know-how to do it. Sites like Bitpay.com have made it easy for merchants and retailers to convert Bitcoin to more than 30 currencies. And every day, more merchants take Bitcoin.
Even now, you can use Bitcoin to make everyday purchases like these...
Why are people investing in bitcoin today, when it's trading around $1,000 (at this writing), even though it's been around since 2008, when it cost less than 10 cents?
The new, rapidly growing popularity of investing in bitcoin can be explained by the actions of one group: The U.S. Federal Reserve.
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You can use it to pay your way to the University of Nicosia in Cypress. You can even use it to buy a seat on a space flight aboard Richard Branson's Virgin Galactic. We're taking about Bitcoin, a digital currency once dismissed as a crazy Internet experiment best suited for buying illegal drugs on rogue Web sites.
But you won't believe the things you can buy with Bitcoin now...
By now you've probably heard of the digital currency Bitcoin, but it's not as new as you might think. Virtual currencies have been around for more than 20 years, and Bitcoin is far from the only example. Today there are more than ever - at least 80. And there's a good reason people keep coming back to the idea of virtual currencies -
other forms of money just aren't capable of this...
Just a few kind words from a handful of federal officials about the positive aspects of the Bitcoin market Monday afternoon were all it took to send the digital currency rocketing from $675 to $900 in a matter of hours.
While Bitcoin prices settled back down into the $600s by Tuesday morning, the significance of the Bitcoin market's reaction should not be dismissed.
What was said at Monday's Congressional hearing before the Senate Homeland Security and Government Affairs Committee marked a turning point in how the U.S. government views Bitcoin.
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When you look at the numbers, it's almost surreal. In just three weeks, the digital currency known as Bitcoin has more than tripled in value. For that you can thank the Chinese. Over the past month, the volume of Chinese Bitcoin buying has increased tenfold. And when you find out why they're buying,
You'll see that we're still in the early stages of this phenomenon...
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