Emerging out of the ashes of the financial crisis, Bitcoin was created as a bypass to the banks and government agencies mired in Wall Street’s greatest calamity in decades. The largest digital token, trading around $7,200, has posted gains of more than 9,000,000% since July 2010, according to data compiled by Bloomberg. Bitcoin, instead, is run by a network of computers that keep track of all transactions on the blockchain ledger. A few large retailers are accepting payment in Bitcoin but there hasn’t been the large-scale embrace so many had predicted. “That would not shock me.”But beyond next year, “Bitcoin is finding its own narrative as digital gold,” he said.

Source: Los Angeles Times December 31, 2019 23:26 UTC