Bitcoin Bubble Drives Virtual Currency Investment Strategies

Apr 8, 2013
Reading Time: < 1 minute
Written by Dominic Woolrych

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.

Popular Guides

Get the latest news

By clicking ‘Sign up to newsletter’ you are agreeing to the Lawpath Terms and Conditions

You may also like

description

Create and access documents anytime, anywhere

Sign up for one of our legal plans to get started.