More accessible: A cryptocurrency ATM in a convenience store in Miami, Florida. There are now 19.61 million bitcoins in circulation. — AFP
THE last time this column spoke about cryptocurrencies and more specifically, bitcoin, was more than three years ago in a column, entitled “Can Cryptos Be an Asset Class”, published on Dec 12, 2020.
The argument put forth then was that bitcoin doesn’t make sense as it has no intrinsic value. It is not a currency, and it is highly volatile. It is also not backed by any asset nor legal tender and it is highly speculative.
Subscribe to The Star Yearly Premium Plan for 30% off
Cancel anytime. Ad-free. Full access to Web and App.
Monthly Plan
RM 13.90/month
RM 9.73/month
Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.
Annual Plan
RM 12.39/month
RM 8.63/month
Billed as RM 103.60 for the 1st year, RM 148 thereafter.
