Does bitcoin deserve a place in your investment portfolio?

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The astonishing financial upheavals across the globe in the past 12 months has resulted in a resurgence of crypto-currencies, particularly bitcoin, as more mainstream investments.Bitcoin’s price has rocketed more than 400 per cent and there is wide speculation that institutional investors will soon add significant amounts of crypto-currency to their investment portfolios.Crypto-currency advocates believe that these assets have the same utility as more traditional stores of wealth, such as art, gold or even negatively yielding inflation-linked bonds.It is believed that bitcoin’s scarcity – there can only ever be 21 million in existence – may enable it maintain its value against traditional currencies that are at risk from fiscal and monetary policies.Greater institutional and corporate support has brought with it some legitimacy, which also builds confidence in the stability of the crypto ecosystem.Credit card providers Visa and Mastercard have crypto products and projects in development, while Tesla, PayPal, Square and numerous…

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