So You Want to Invest in Bitcoin: Here's What You Should Know

This article was updated on August 7, 2017, and originally published on March 25, 2017.

Earlier this year the U.S. Securities and Exchange Commission rejected a bid by Tyler and Cameron Winklevoss, the twins infamous for claiming that Mark Zuckerberg stole the idea of Facebook from them while they were undergrads at Harvard, to launch a bitcoin-based ETF (exchange-traded fund). The decision from the SEC came nearly four years after they filed for regulatory approval. In the immediate aftermath of this news, the price of bitcoins, which had nearly tripled over the last year, significantly dropped to less than $1,000.

Although other bitcoin-based ETFs are awaiting approval, and this decision did not directly affect their status, the wording of the SEC ruling did not initially appear to bode well for the prospects of bitcoin-based exchanges anytime soon.

Source: Fool.com