12 Apr '13, 7pm

The dazzling rise and fall of the virtual currency Bitcoin

The dazzling rise and fall of the virtual currency Bitcoin

For Tyler Winklevoss and his twin brother Cameron, whose legal feud with Mark Zuckerberg over the origins of Facebook was depicted in The Social Network, it could be the next big digital thing – and they’ve dug deep into their pockets to back it, with an investment worth $11m as of Thursday morning. One thing, though, is for certain: Bitcoin, the virtual currency launched by an anonymous hacker more than four years ago, has rarely attracted as much attention outside the technology world as it did over the past week, when its value gyrated wildly, striking a new peak before slumping precipitously. At one point, a Bitcoin was worth nearly $270. But at the time of writing, it equated to just over $73, according to MtGox, an exchange. The sudden ups and downs sparked various theories, including the possibility that some investors spooked by the crisis in Cyprus had abandoned n...

Full article: http://www.independent.co.uk/money/spend-save/the-dazzlin...

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