At first, bitcoin was just the purview of cryptography nerds and libertarian redditors. Since then, digital currencies have been used to fund everything from World Cup betting rings to congressional elections. Now that bitcoin is out in front of legislators and safer than ever to use, investors are starting to pour record amounts into bitcoin startups.
When asked about bitcoin on CNBC’s Squawk Box on Friday, billionaire investing tycoon Warren Buffett had his answer ready to go.
“Stay away from it,” Mr. Buffett said, “it’s a mirage, basically.”
Mr. Buffett’s conclusion about bitcoin seems to be that bitcoin is just a system for “transmitting money.” He gave Read More
TechCrunch has gotten hold of an internal report by Goldman Sachs wherein the investment firm takes a deep look at crypto-currencies, and many are quick to call it a devastating blow to Bitcoin’s future.
The report says that bitcoin is not a real currency, and shouldn’t be trusted as a safe Read More
If you’re closely tracking the wild swings in bitcoin’s value, it’s enough to make you crave a glass of wine–or several. The City Wine Cellar in Staten Island is now accepting the decentralized digital currency as a form of payment,presumably to help calm your nerves after hours of nerd mining. Read More
Oh great, you can finally do something useful with all those bitcoins laying around: leave this god forsaken planet. Sir Richard Branson announced today that his space airline Virgin Galactic will accept the virtual current when it launches next August. Read More
Bitcoin has been in the news a lot lately. Is it a legit form of currency? Can the government regulate it? Why are banks trying to harsh its vibe so hard? We don’t know. But what we do know is that you can now use it to buy breast implants in–where else?–Miami. Read More
Despite dwindling public interest and rampant security flaws, there are still two people who believe in the power of the Bitcoin: the Winklevoss twins. The brawny brothers filed plans with the S.E.C. yesterday to establish a fund that lets investors trade the unregulated crypto-currency just like stocks. Read More
The FBI recently estimated that after three years, the Bitcoin economy is worth at least $35 million. Thanks to the uncertainty surrounding certain government currencies, it may soon be worth more. The Financial Post reports that fear over the value of the euro, strained by potential government insolvency in Greece and Spain, has led to a significant uptick in euro-for-Bitcoin trading. Read More