Analyst Jim Rogers says bitcoin is unlikely to be the catalyst for an explosive price surge.
Bitcoin has a long way more work to do before it is the dominant asset in the financial markets.””
It has a very long way to go before it becomes a dominant asset.
Bitcoin has a long way more work to do before it is the dominant asset in the financial markets.”
The UK-based investment bank’s latest report forecasts that by 2025, the value of bitcoin will rise to $7.4 trillion.
Bitcoin was created in 2009 as a digital currency that is not backed by a central bank or central bank-issued fiat currency.
Its popularity has grown amid concerns about the risks of financial bubbles and the lack of regulation.
The currency has soared to a record high of more than $1,000 this year, and investors have been pouring into the asset.
In the US, where a $1m bond is a common interest rate, investors are buying bitcoin as a hedge against rising interest rates.
The technology underpinning the digital currency is called bitcoin, and its value has skyrocketed in recent months.
Its price has also risen sharply amid concerns over the government shutdown, which has left the world economy shut down for nearly three weeks.
The UK government says it will ban bitcoin trading in the UK from Tuesday.
But the move has provoked a backlash from bitcoin supporters, who say the ban is an attempt to force the currency into the mainstream.
The bitcoin industry is facing intense competition from virtual currencies, which are designed to operate more like a commodity rather than a legal currency.
A report by the European Central Bank says the value has plunged from more than US$4.5tn to $2.5 trillion.
It says the decline has been caused by the collapse in the value and volatility of bitcoin and other virtual currencies.
Bitcoin has surged to more than 1,000 times its value in just a few days.