The price of the electronic currency Bitcoin continues to soar.
Six weeks ago, Bitcoin was trading at US$35. Since then, the price has continued to surge to new highs. On Wednesday morning, Bitcoin blasted through US$250, before pulling back slightly.
[np_storybar title=”Bitcoin 101: The new gold or just a flash in the pan?” link=”http://business.financialpost.com/2013/04/05/bitcoin-101-the-new-gold-or-just-a-flash-in-the-pan/”]The Bitcoin market is worth more than US$1-billion and is gaining attention from financial firms. We take a deeper look at the virtual currency the whole world is buzzing about.
As is always the case with such price moves, observers have been dismissing Bitcoin as a “bubble” since long before prices even hit US$35.
And the observers may well be right.
Bitcoin may be a bubble.
Someday, Bitcoin prices may come crashing down, causing the suckers who own them then to lose their shirts.
But, in the meantime, those who are speculating in Bitcoin are just…
View original post 923 more words