29 Dec '14, 6pm

Bitcoin Named Worst-Performing Currency of 2014

Bitcoin Named Worst-Performing Currency of 2014

If Bitcoin received a year-end grade for value, it would be a giant F. While Bitcoin buzz and adoption experienced a healthy growth spurt in 2014, its value in U.S. dollars did the opposite. The virtual currency was the worst-performing currency of the year, plummeting by more than 56 percent since January and 72 percent since last November, according to Bloomberg. Bitcoin fared worse in the last 12 months than even Russia’s ruble, which plunged 42 percent this year. Related: New York Regulator Lays Out Tweaks to Bitcoin Rules Kicking off with the collapse of Mt. Gox and ending with a two-year prison sentence for former Bitcoin Foundation executive Charlie Shrem, without a doubt, this year was consistently turbulent for the controversial digital cash. Today is no better, with the cryptocash currently trading at a dismal $313, according to CoinDesk’s Bitcoin Price Index . B...

Full article: http://www.entrepreneur.com/article/241306

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