16.07.2013 - Bitcoin ETF: Get ready for bubble mania
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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