Bitcoin $500 Investition

Bitcoin & Co: Paukenschlag von Coinbase – Kryptos geben Gas

Bitcoin $500 Investition

By Lauren Silva LaughlinReuters Breakingviews 3 Min Read A Bitcoin virtual currency coin is seen in indirekt in kryptowährung investieren illustration picture taken at La Maison du Bitcoin in Paris, Bitcoin $500 Investition, June 23, Their volatility is alluring when tranquil markets are depressing industry returns.

But that can be a trap, as the investor well knows. The result is painful for hedge funds, which rely on sharp market moves to make their bets pay off.

Bitcoin $500 Investition

Digital money seems like the perfect antidote. Bitcoin has risen fourfold since the start of the year, notwithstanding a 34 percent plunge in early September.

Bitcoin & Co: Paukenschlag von Coinbase – Kryptos geben Gas

Novogratz, who began dabbling in the digital realm after crashing out of Fortress two years ago, claims to have made enough money to buy a Gulfstream jet. There are problems with his strategy, though.

Bitcoin $500 Investition

Novogratz says the market is a massive bubble, meaning he must be counting on being a better market-timer than others. That smacks of hubris considering his track record. The resulting losses helped lead to the closure of his fund and his retirement from Fortress.

Bitcoin $500 Investition

Exchanges have been hacked, causing big losses, and regulators from Beijing to Washington are starting to clamp down. Bitcoin enjoys a perception of scarcity, as only 21 million can ever be mined, but the potential for rivals is unlimited.

Breakingviews Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day.

A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Bitcoin $500 Investition

All opinions expressed are those of the authors.

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