There has been an increasing amount of attention on bitcoin in recent months as its value has soared, writes Daniel Murray, global head of research at EFG Asset Management.
At the end of 2016, one bitcoin would have bought $952. By the end of August, that same bitcoin would have bought $4,730. An increase of more than 4x for the year-to-date. Bitcoin value exceeds gold for first time The rate appreciated by 70% in August alone and while it fell by some 25% in September, its price has now soared to a record high. Such attention has occasionally flared up in the past, usually associated with these brief fillips in the bitcoin-US dollar exchange rate. As the value of bitcoin has appreciated, so too has media interest and broader investor curiosity. ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
