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Shrugging off fears of a possible price crash, the cryptocurrency has reached another record high. Despite climbing more than percent in a year, institutional investors remain skeptical about its prospects. The London-based publication said the cryptocurrency achieved the new record on Wednesday, boosted by bets the crypto-currency might enter the financial mainstream after the world's largest derivatives exchange operator said on Tuesday it would launch bitcoin futures.
Paying with the cryptocurrency. The sudden drop in value was attributed to China banning initial offerings of other cryptocurrencies and the use of Bitcoin exchanges. Bitcoin was the world's best performing currency in and has grown dramatically again this year. The buzz around Bitcoin has led to the launch of more than 80 digital currency hedge funds and even a Gold coin offshoot.
Recently, legendary US investor Warren Buffett warned that the digital currency was in "a real bubble. When it launched in , Bitcoin was worth only a few US cents. Despite not being backed by any central bank or government, Bitcoin's sudden rise has led to fans taking huge risks to profit from its apparent good fortune.
Last week, Russia moved to regulate digital currencies like Bitcoin, citing booming demand. Moscow will draft legislation that defines the rules that creators of virtual money will have to play by. They will also be required to register and pay taxes to the Russian state. But can the virtual currency sustain its record run amid increasing government regulation?
He called the cryptocurrency a fraud and insisted it was destined to crumble like a house of cards one fine day. Bitcoin has long had a poor reputation.
On the dark net it has been used to buy drugs and arms. But its reputation is improving and it is being used for legitimate transactions as well. Top Wall Street bank Goldman Sachs is considering launching a trading operation in bitcoins possibly pushing the digital currency into the mainstream. It would be the first big bank to do so. Vietnam has launched an investigation into a multi-million-dollar cryptocurrency scam, ordering a crackdown on trading in the highly-popular iFan and Pincoin digital currencies in its lightly regulated market.
Blockchain can trace everything from green supply chains to emissions cuts, enable green energy trading and convert plastic waste into cash.
A host of initiatives and start-ups are getting in on the technology. Some of the world's biggest auto companies have teamed up with tech providers and startups to form a consortium aimed at developing automotive uses for blockchain, the database technology known from cryptocurrencies. A crashed tanker truck carrying liquid chocolate has turned a section of a Polish highway into "a huge chocolate bar.
He also said Europe is in charge of saving multilateralism. Where is Armenia headed after a protest leader was elected prime minister?
Change it here DW. COM has chosen English as your language setting. COM in 30 languages. Germany Germany reaffirms Iran nuclear deal but business worries abound What to expect from the Russian president's next term Business German cabinet paves way for class-action lawsuits Share What is a blockchain? What is a blockchain? Paying with the cryptocurrency Bitcoin has long had a poor reputation. Trading in bitcoins may be coming soon to Goldman Sachs Top Wall Street bank Goldman Sachs is considering launching a trading operation in bitcoins possibly pushing the digital currency into the mainstream.
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