Is Bitcoin For Real This Time?

Is Bitcoin the new “safe haven” asset?

How do you explain the sudden surge in the value of the cryptocurrency over the past several days?

bitcoin-buying-surge-market-digital-currency-838120

Marketwatch suggests a few reasons:

(i) the “technicians” claim that it has found a new high low (huh?);

(ii) the digital asset is slowly being accepted by legitimate institutional buyers;

(iii) the public is finding that the coin may be a substitute for gold as a place to go when the markets are crazy; or

(iv) there is some grudging acceptance of Bitcoin as a medium of exchange, notwithstanding the continuing hacks costing millions of dollars.

Is it a case of musical chairs or a real commodity?

Only time will tell…

https://www.marketwatch.com/story/why-is-bitcoin-surging-here-are-4-possible-explanations-2019-05-10

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About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
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