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Bitcoin ETF: Get ready for bubble mania

Posted on 16 July 2013

The Winklevoss twins of Facebook (FB) fame intend to launch a new ETF to track the price of Bitcoins, an online cryptocurrency that enjoyed a meteoric rise during bank crises in Europe. Bitcoin is an anonymous, peer-to-peer currency that is used for everything from purchasing electronics to money laundering and drug purchases. One of the biggest marketplaces for Bitcoin is a site called Silkroad, where users spend Bitcoin on everything from cocaine to ecstasy.
Said another way, Bitcoin is a currency that is “backed” by illegal activity – that’s what keeps it so popular………………………………………..Full Article: Source


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VRS - who has written 39895 posts on Opalesque Commodities Briefing.


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