Dance away, Bitcoin believers. But what happens when the music stops?

Insane. Absolutely insane. The price of Bitcoin, the digital currency that suddenly has everyone talking, has shot through the roof (and then some).

Last week, one unit of Bitcoin actually became more valuable than one troy ounce of gold. From $13 in January this year to $1,200 or thereabouts now, that’s  the jaw-dropping gain that Bitcoin has pocketed this year.

Check this infographic to view some recent trends in the virtual currency’s award-worthy performance.

[Image Credit]

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4 thoughts on “Dance away, Bitcoin believers. But what happens when the music stops?

  1. Have you asked this question of real estate, equities, and synthetic derivative products? We take the market cap and divide it by the number of ACTUAL bitcoin in existence: that gives us the price of bitcoin. I don’t understand what’s so jaw-dropping about that. Bitcoin is a 100% transparent, open-source protocol. There shouldn’t be any surprises.

  2. I’d have to disagree because market cap itself can change from day to day…so you can’t get a definite value of Bitcoin from that.You also need to evaluate what that market cap is based on. But you are definitely entitled to stay in the opposite camp because this is a really new subject that everyone is grappling with…and who knows, Bitcoin might yet end up ruling the world. For now, I am skeptical…Cheers!

  3. Pingback: Greenspan calls Bitcoin “a bubble.” Everyone else is not so sure | Wall of Money

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