"Bitcoin Surges to Record Levels," "Bitcoin More than Doubled This Year," "Bitcoin Plummets, Loosing $4 Billion of Market Capitalization," "Cyber Fraud Attackers Demand Payment in Bitcoin." This new virtual currency has caught on: a $100 investment in Bitcoin in 2010 would now be worth over $75 million! In other words, "going off the gold standard" meant that the dollar was now a "fiat currency", backed solely by a promise from the government. Only by backing the currency with a scarce commodity like gold, they say, will policymakers be prevented from taking action that will devalue the currency. While I don't have a firm opinion on Bitcoin as an alternative currency, I do have more conviction on Bitcoin as an investment: it is not an investment.

Source: Huffington Post June 06, 2017 18:01 UTC