NEW YORK: Bitcoin burst out of the shadows in 2017, seducing Wall Street and individual investors alike even though many still struggle to understand precisely what it is. “Bitcoin remains a major gamble as it is very much an uncharted-waters asset,” said Nigel Green of investment firm deVere Group. The digital currency’s moment in the limelight began on December 10 with the first trading in bitcoin futures on a mainstream market in Chicago. “This is the year bitcoin and the cryptocurrencies went legitimate,” said Timothy Enneking of Crypto Asset Management. But, with the exception of Japan, which recognized bitcoin as legal tender in April, other major economies are waving red flags.

Source: New Strait Times December 19, 2017 06:11 UTC