company disclosed the. Ostk ) has de-emphasized much of its struggling online retail business to focus on cryptocurrencies. In Asia, where cryptocurrency is particularly popular, China and South Korea have both cracked down on cryptocurrency trading. The World Bank has announced plans to launch a blockchain bond.
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Goldman Sachs gS ) CEO Lloyd Blankfein tweeted last month that while he wasn't endorsing or rejecting bitcoin just yet, he did note that "folks also were skeptical when paper money displaced gold.". Bitcoin has now surged nearly 600 this year. Some people just buy bitcoins as an investment, hoping that theyll go up in value. Buffett told cnbc in early May bitcoin was "probably rat poison squared" while Munger said at the Berkshire shareholder meeting that the thought of owning cryptocurrencies was "just dementia." It's also worth noting that the recent plunge in bitcoin comes at a time when the. But security can be a concern: bitcoins worth tens of millions of dollars were stolen from Bitfinex when it was hacked in 2016. But I'll stick with Yahoo for my league.) There is a clear difference between bitcoin and blockchain. Both Dimon and Prince Alwaleed have been proven wrong in the short-term at least as the price of bitcoin has continued to soar. Bitcoin prices - which just passed 5,000 in October - topped the 6,500 level on Wednesday. Bitcoin continued reeling days after a massive hack in South Korea. Warren Buffett and Charlie Munger of Berkshire Hathaway ( brkb ) have also warned investors to stay away from bitcoin. Published December 2013; Updated August 8, 2018.
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