Is Bitcoin a speculative bubble or is it here to stay, Ian Vella asks.
Interest in Bitcoin has surged in recent months, mostly due to the fact that this virtual currency is reaching new heights and its value has increased by 400 per cent in just a few months. It has also created new young millionaires and what started as an experiment is now attracting the attention of major investors, governments and even bankers.
Bitcoin can best be described as a peer-to-peer crypto-currency, meaning that there exists no particular central authority that controls this currency. No one can decide to print more of this money. And while electronic transactions are completely transparent and traceable, at the same time, the owners of Bitcoin can remain anonymous.