As bitcoin prepares to vault to $100,000, I can't help but wonder if cryptocurrency – not artificial intelligence – is the mother of all financial market manias.
BTC.CM= YTD mountain Bitcoin in 2024 The first bitcoin, minted in 2009 , changed hands at about one-tenth of one cent.
With bitcoin at nearly $100,000 on Thursday, the first buyers of the cryptocurrency would, no doubt, be worth scores of billions of dollars.
The three defining features of money are: A medium of exchange A unit of account A store of value Bitcoin – or any cryptocurrency – is not widely used for transactions.
The real question in my mind remains, does the world need bitcoin, or does it just want the flagship crypto?
Persons:
bitcoin, cryptocurrency, SWIFT, there's, Donald Trump, Charles Mackay, Ron Insana
Organizations:
Louis Federal Reserve, U.S, U.S ., CNBC
Locations:
U.S, Dutch