17 rows · Conversion from Bitcoin to Dollar with latest exchange rate and cryptocurrency price. . Jan 02, · The bitcoin price has come within touching distance of $30, this week, hitting $29, per bitcoin on the Luxembourg-based Bitstamp exchange before falling back slightly. Bitcoin is Author: Billy Bambrough. Jan 02, · Bitcoin has been flirting with the $30, mark for weeks, and finally passed that record-setting level Saturday. The virtual currency is now valued at above $33,, an all-time high.
.01 bitcoin valueBTC to USD (Bitcoin to Dollar) - BitcoinsPrice
Bitcoin has swung wildly in recent days amid a massive rally fueled by increased interest from big investors seeking protection against inflation, as well as hopes that it will become a more mainstream digital payment method. It was trading up 3. Tuesday, according to CoinDesk. Despite the possibility of long-term growth, JPMorgan sees Bitcoin coming up against roadblocks in the short term thanks to the large amount of speculation in the cryptocurrency market, according to Bloomberg.
Read Next. NYSE backtracks on plans to delist three Chinese telecom g This story has been shared 28, times. This story has been shared 2, times. View author archive Get author RSS feed. As Buffett put it back in , "the idea that [bitcoin] has some huge intrinsic value is just a joke in my view. There's also no interest or dividends. Bitcoin serves as a new kind of currency for the digital era. It works across international borders and doesn't need to be backed by banks or governments.
Or at least that was the promise when it was created in The surge and volatility of bitcoin this year may be great for those who invested early, but it undermines bitcoin's viability as a currency.
Related: Bitcoin boom may be a disaster for the environment. Then again, if bitcoin crashes, at least I'll always have the socks. Rather than a currency, bitcoin is being treated more like an asset, with the hope of reaping great returns in the future. So is there anything truly valuable about bitcoin? Bitcoin is built on the blockchain , a public ledger containing all the transaction data from anyone who uses bitcoin. Transactions are added to "blocks" or the links of code that make up the chain, and each transaction must be recorded on a block.
Even bitcoin critics like Dimon have said they support the use of blockchain technology for tracking payments. Is there a legal and legitimate way to invest in bitcoin? Bitcoin exchanges have a checkered history. Gox, once the largest exchange, shut down in after losing hundreds of millions of dollars worth of bitcoin after a hack.
Square SQ , the payments service, is also rolling out a bitcoin product. There are also bitcoin ATMs in scattered bodegas and convenience stores around the country, through companies like Coinsource.
Rick Rieder, the chief investment officer of fixed income BlackRock BLK , has said the digital currency could replace gold. This isn't bitcoin's first price spike. Read More. Bitcoin experts remain bullish on the currency. Yet even as bitcoin is becoming mainstream, the currency is still commonly used by fraudsters, giving it negative attention. Last July, hackers took over Twitter accounts belonging to Elon Musk, Bill Gates and Barack Obama in an apparent effort to earn income by scamming people out of bitcoin.
Due to the currency's decentralized and nearly anonymous nature, it can be hard to get money returned after losing it in a scam, as there is no central authority -- such as a bank -- to intervene. Decentralization has made cryptocurrency a favorite for scammers, even as it appeals to technologists and investors alike.