AS THE digital currency hits record highs, there are warnings of “mania”
— some people are even taking out mortgages to buy bitcoin.
THE twin brothers dubbed the world’s first “bitcoin billionaires” have predicted the controversial digital currency could increase in value by another 20 times from today’s levels.
“We think bitcoin is gold 2.0,” Cameron said. “It’s a store of value, so today it’s about a $US300 billion market cap, gold is at $US6 trillion, so we think it could very well go up another 20 times from today.
Bitcoin has increased in value by more than 1500 per cent this year to reach a market capitalisation of more than $US280 billion, in what UBS describes as the “bubble to end all bubbles.
The launch of bitcoin futures, which allow investors to bet on the rise or fall of the currency, was widely seen as a success despite many major banks keeping their distance and the CBOE twice being forced to suspend trading due to major price swings.
Meanwhile, the US Securities and Exchange Commission has also warned investors against bitcoin and other cryptocurrencies, particularly those offered to investors under controversial initial coin offerings (ICOs).
THE twin brothers dubbed the world’s first “bitcoin billionaires” have predicted the controversial digital currency could increase in value by another 20 times from today’s levels.
“We think bitcoin is gold 2.0,” Cameron said. “It’s a store of value, so today it’s about a $US300 billion market cap, gold is at $US6 trillion, so we think it could very well go up another 20 times from today.
Bitcoin has increased in value by more than 1500 per cent this year to reach a market capitalisation of more than $US280 billion, in what UBS describes as the “bubble to end all bubbles.
The launch of bitcoin futures, which allow investors to bet on the rise or fall of the currency, was widely seen as a success despite many major banks keeping their distance and the CBOE twice being forced to suspend trading due to major price swings.
Meanwhile, the US Securities and Exchange Commission has also warned investors against bitcoin and other cryptocurrencies, particularly those offered to investors under controversial initial coin offerings (ICOs).
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