Bitcoin has ‘upside’ but still considered a ‘risky investment’


Bitcoin hit a record high of $US58,000 ($73,000) over the weekend as investors of all ages – not just younger, tech-savvy males – look to get a piece of the action, fearful of missing out on making some easy money.The latest price surge follows a rise of 30 per cent only a fortnight ago after it was revealed that Tesla, led by tech visionary Elon Musk, had invested $US1.5 billion of the electric carmaker’s spare cash into Bitcoin earlier this year.Bitcoin is a virtual currency, most commonly known as a cryptocurrency. As such, despite the name, Bitcoins are not physical, existing instead on a huge publicly accessible digital ledger known as the blockchain. Every transaction made with Bitcoin is viewable and track-able on this database.A survey of more than 2000 people conducted in February on behalf of BTC Markets, a Melbourne-based crypto exchange, shows investing in virtual currencies is becoming…

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