THE FUTURE OF BITCOIN

Blog Post, current events

The virtual currency, Bitcoin, hit an all-time high value of $11,000 in late November. The steady increase is value has many financial experts wondering if the currency is going to continue to gain speed, or if its time has come and is now about to pass. Traditional lending institutions, such as JP Morgan Chase have concerns over the validity of cyber currency, and claim the funds are not real because they are based solely on a computer code and not backed up by any real money. But others claim use of bitcoin and similar cyber currency can be helpful, especially in areas with unstable economies. For now it looks like virtual currency is here to stay, as investors flock to the commodity, driving its value ever higher.

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