After the latest wild ride took the poster child of cryptocurrencies above $40,000 before a stomach-churning plunge, the million dollar question won’t go away: how much is bitcoin actually worth?
Although that’s small potatoes compared to the $68 trillion or so swilling around world stock markets, it is nonetheless the sort of financial territory staked out by Wall Street tech royalty such as Google, Apple or Tesla. “Lost” does not mean the coins have fallen down the back of the sofa or through a hole in a trouser pocket: they have been electronically zapped from the record, often because their owner has forgotten a password to coins hoarded on a USB stick.
According to analysts at JP Morgan, bitcoin may be highly volatile but could go as high as $146,000 per unit, putting it in competition with gold as an asset class in terms of private sector investment. Gradwell said that around one in five bitcoins in circulation today have not budged from their location in five years — since days when the unit was worth not much more than $100.
Patrick Heusser, head of trading at Swiss trader Crypto Broker, said that following the trading volumes of a variety of cryptocurrencies, rather than just bitcoin, would give a better idea of how the market is faring.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooSG - 🏆 3. / 71 Read more »
Source: YahooSG - 🏆 3. / 71 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: YahooSG - 🏆 3. / 71 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »