Friday, December 01, 2017

Why Is the Value of Bitcoin Soaring?

Bitcoin seems to be soaring in value these days - but why? Speculative bubbles have been seen before, but what's driving this latest surge?

I've previously mentioned how China's OBOR initiative poses a threat to the status of the US dollar as the global reserve currency. If the US dollar was displaced from that, then it would lead to a steep plunge in the value of the US dollar. Perhaps certain farsighted people in the know are then reacting in advance to this prospect, by stashing their money into Bitcoin as a non-fiat currency.

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