Bitcoin Bubble Drives Virtual Currency Investment Strategies

Share at:

Bitcoin has jumped in value from a few dollars to over $100 in a year, causing people to speculate that it is the ideal hedge against the uncertainties of the global financial markets. Bitcoin’s other reason for coming to prominence recently is that it is the currency of choice for anonymously purchasing illegal drugs on the SilkRoad site.

There have been virtual currencies before – remember Flooz (bankrupt in 2001) and Beenz, one of the great dotcom disasters. Also good to remember Bitcoin had a big crash in value in 2011. Legally there are significant regulatory issues which are yet to be fully answered by virtual currency operators.

In terms of investment categories, you might put Bitcoin as a shade more risky than Scratchies and investing in a friend’s wife’s new dress shop idea.

The Helpful Lawyer

Don’t know where to start? Contact us on 1800 529 728 to learn more about customising legal documents and obtaining a fixed-fee quote from Australia’s largest lawyer marketplace.

Share at:

Most Popular Articles
You may also like
Recent Articles

Get the latest news

Name

By clicking on 'Sign up to our newsletter' you are agreeing to the Lawpath Terms & Conditions

eBook
Download our eBook,
Hiring Your First Employee

Our eBook covers the necessary legal and financial considerations you should make when hiring your first employee.

Name

You may also like

How to exit a Partnership Agreement

Learn how to exit a partnership agreement. Understand the essential steps for withdrawal, buy-outs, and business dissolution to ensure a smooth transition.

When Do You Need to Register for GST?

Learn when you need to register for GST in Australia, including turnover thresholds, rules for rideshare drivers, and voluntary registration benefits.

Can you Dismiss an Employee on Maternity Leave?

Dismissal while on parental or maternity leave in Australia is not always illegal, but it can be tricky due to strict legal protections. Consult our guide for more details.