The Bitcoin Bonanza
The price of Bitcoin is up 600% over the past 12 months, and 1,600% in the past two years. Investors want to know whether the price will keep rising – and regulators need to consider what will happen if the Bitcoin bubble bursts.
- Kenneth Rogoff believes that Bitcoin’s price will collapse as the state will eventually move in to regulate it – and appropriate the underlying technology.
- Andrew Sheng and Xiao Geng argue that as peer-to-peer alternatives to official money proliferate, and the state loses its role in maintaining currency values, the risks to financial stability implied by a collapse are rising.
- Mohamed El-Erian thinks that financial sector innovations like Bitcoin will be just as disruptive and influential as those that have roiled the world’s media.