High gain high risk investments: If cryptocurrencies are commodities, Bitcoin is like oil – Five ways how they are similar
Saudi billionaire and one of the biggest stakeholders in the oil industry Prince Alwaleed in an interview to CNBC opined yesterday that Bitcoin would implode. Saudi billionaire and one of the biggest stakeholders in the oil industry Prince Alwaleed in an interview to CNBC opined yesterday that Bitcoin would implode. Volatile pricesA look at oil prices over the last 150 years gives an idea of how prices of such commodities are controlled. Way back in 1869, oil prices surged in the US at $55 per barrel when it was a novelty. Sophisticated supply chainToday, trading in oil is more profitable than producing oil, possibly due to overly complex and sophisticated oil supply chain.
Source: Indian Express October 24, 2017 09:13 UTC
