Bitcoin advanced impressively over the holiday period. The cryptocurrency has gained almost 35% over the past two weeks, according to data from industry specialist CoinDesk. We are cautious about over-interpreting trends in this speculative asset. The total value of the Bitcoin market may now be about $16 billion. That size is smaller than the market capitalization of the Sri Lankan stock exchange. But investors should offer cryptocurrencies some analytical shelf space. Bitcoin, Ethereum, and others represent an emerging shift from traditional stores of value—such as US dollars and gold—especially in the developing world. Chinese demand is well established; Indian activity is now growing because of demonetization. In a crisis context, Venezuela provides a case study in managing hyperinflation. ■
Learn more at Reuters
© 2017 Cranganore Inc. All rights reserved.
Unauthorized use and/or duplication of any material on this site without written permission is prohibited.
Image Credit: Ha4ipuri at Can Stock Photo Inc.
Important Disclosure: The book-title and cover-image hyperlinks on this page are affiliate links. If you opt to make a purchase from amazon.com, we earn a sliver of revenue at no cost to you. The gesture is a much-appreciated vote of encouragement, signalling continued interest in these recommendations.
Required Notification: The website sponsor is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.