caseyresearch.com / Justin Spittler / January 12, 2017
Bitcoin is taking speculators for a ride.
Bitcoin is a digital currency that was created in 2009. Unlike paper currencies, Bitcoin isn’t controlled by a government or central bank—it’s governed by a peer-to-peer network.
In the beginning, few people took Bitcoin seriously. But it’s become very popular with investors in recent years. That’s partly because more and more people are losing faith in the paper money system.
The business community is also embracing the digital currency like never before. More than 100,000 businesses around the world, including Amazon, eBay, and Target, now accept bitcoins as payment.
• In 2015, Bitcoin’s price surged 40%…
It was the year’s top-performing currency.
Last year, Bitcoin surged another 120%. It was the year’s best-performing currency once again.
Until recently, it looked like the digital currency was headed for a three-peat.
• Bitcoin’s price surged 20% over the first four days of 2017…
Last week, it topped $1,000 for the first time since 2013. And it got within $13 of its all-time high.