ShutterstockThe value of one bitcoin recently hit a record high of US$3,025, a staggering rise of over 200% in value this year alone.
Aswath Damodaran, professor of finance at the New York University, known as Wall Street’s “dean of valuation”, has said that among the younger generation, digital currencies have replaced gold as a choice of investment and that, sooner or later, currencies such as bitcoin and ethereum will compete against nation-state paper currencies.
So could bitcoin become a popular currency and decrease the popularity of euros, dollars, pounds, roubles and others? For anything to be seen as “money” it needs to …read more
Source: The Conversation