Bitcoin Mentions in The News

Levchin, now 42, recently connected with The Associated Press to discuss the state of digital payments, computer security and bitcoin, a cryptocurrency whose value has ranged from about $1,000 to more than $19,000 this year as investors have bet on its future prospects. Source Additional information from Bitcoin Brilliant

A big "what if" and "when if" has been surrounding bitcoin and its ilk. Source

The price of bitcoin has been soaring this year, and last week alone it jumped from $11,000 to well over $17,000, according to Coindesk. Source

Stiglitz went so far as to tell Bloomberg TV that bitcoin should be "outlawed." Source

"We have seen bitcoin more as a speculative investment rather than an equivalent to cash," says J. Craig Shearman, spokesman for the National Retail Federation, the world's largest trade association of retailers. "Even if it were a foreign currency, you need to dependably know what the exchange rate is, and bitcoin doesn't meet any of those tests." Source

Mark Fratella, a teacher who lives in Elmhurst, Illinois, bought some bitcoin "for the novelty of it" back when it was worth $700 or $800. Source

"But I have also seen a few analysts talk about how, in the grand scheme of things, there are a relatively low amount of people into bitcoin and there is a huge potential for growth," he said. Source

The futures also give investors the opportunity to "short" bitcoin — that is bet that its price will go down — which presently is very difficult to near impossible to do. Source

Jamie Dimon, the head of JPMorgan Chase, has called bitcoin "a fraud" that will eventually "blow up." Source

For now, people keep buying bitcoin, even with all the talk of a bubble. To Ritholtz, the enthusiasm is a combination of the novelty of bitcoin, the built-in scarcity of it — only 21 million of them will ever be created — and the psychology of people being attracted to assets whose prices appear to keep going up. Source

The price of an actual bitcoin has soared since it began the year below $1,000 and on Friday was at $16,551 on the private exchange Coindesk. Source