Daily chart: A Bit expensive

  • Bitcoin’s record price looks like a bubbleNOT MANY fund-managers have heard of Bitcoin, let alone put any of their clients’ money in it.
  • Since September, when The Economist last wrote about it, the price of a unit of Bitcoin as recorded by Mt Gox, a popular Bitcoin exchange, has soared.
  • Unlike other online currencies—such as the new Amazon Coins—the supply of Bitcoin is not determined by any central issuing authority.
  • Though an increasing number of legitimate businesses are adopting the currency—one Finnish software developer has offered to pay its employees in Bitcoin—it still has relatively few users.
  • This suggests that the new users are buying Bitcoin as an investment, not as a means of exchange.

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@mcannonbrookes: Bitcoin. $60. “A bit expensive”. Today? Passed $4,000. #predictionishard

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Daily chart: A Bit expensive