3 Finance Gurus Who Believe Bitcoin May Be Worthless
If 2017 goes down in the books as anything, it'll probably be "the year of the cryptocurrency." Headed by bitcoin, the aggregate cryptocurrency market cap grew by more than 800% at one point this year. Bitcoin comprises nearly half of the aggregate cryptocurrency market cap by itself. By comparison, it's taken decades for the broad-based S&P 500 to deliver a similar return.
Why the sudden surge in digital currencies?
Some would say it has to do with the blockchain technology that underlies most cryptocurrencies. Blockchain is nothing more than the digital decentralized ledger that records transactions without the need for a financial intermediary like a bank. Because these networks are often open source, it's practically impossible to alter data while going undetected, which makes blockchain a potential upgrade in safety and security.
Source: Fool.com
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