24 Apr '13, 7pm

The Mysterious World of Bitcoin: Does It Have Staying Power? - Knowledge@Wharton

The Mysterious World of Bitcoin: Does It Have Staying Power? Published: April 24, 2013 in Knowledge@Wharton Share this Article Just what exactly should we make of Bitcoin? The once-obscure digital currency has had quite a ride: Fueled by the banking collapse in Cyprus, a wave of speculation and intense media coverage, the value of a single Bitcoin soared from $13 in January to a peak of $237 by mid-April, before collapsing to $83 in a day. While the crypto-currency has recovered somewhat -- it's now around $134 -- the roller-coaster ride left plenty of questions. Is Bitcoin a legitimate alternative currency -- an online replacement for dollars and euros, as backers claim? Or are we witnessing a giant bubble -- a speculative run-up more akin to the Dutch Tulip frenzy, waiting to burst? For skeptics like James J. Angel of Georgetown University, a visiting professor of financ...

Full article: http://knowledge.wharton.upenn.edu/article.cfm?articleid=...

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