Beyond the Bitcoin bubble with Matthew Lynn
Confidant article – Autumn issue 2017
What lies beneath
The technology underlying the currency has huge potential, and just about every financial institution in the world is overtly, or furtively, spending millions on working out how to use it to make paying for, and settling, trades cheaper, safer and more efficient. Meanwhile an army of venture capitalists are pouring funding into variants on the crypto-currency, and new ways of using it. Plenty of investors have piled in – in the early days because they could see genuine potential in the technology but latterly through the sheer fear of missing out. The problem is that once a credible story gets massively hyped and ordinary investors have access to it, conditions are ripe for a bubble to form.
Lies, damn lies and the Bitcoin price
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