BITCOIN WORLD — Bitcoin has been on an absolute tear this year after passing $9,000 and is quickly closing in on the $10 grand mark.
Analysts say the Chicago Mercantile Exchange's decision to launch bitcoin
futures has helped fueled buying in December.
The value of the 16.7 million bitcoin units in circulation has now exceeded $160 billion, which means the digital currency's market cap exceeds that of IBM, Disney and Mickey D's.
The cryptocurrency shows no signs of slowing. Not only are retail investors jumping in, but hedge funds have even started including bitcoin in their portfolios.
According to CNBC, there are more than 120 investment funds for cryptocurrencies.
Bitcoin is a virtual currency that allows people to skip banks and traditional payment processes to pay for things.
Many also warn that Bitcoin's meteoric rise will soon come to an abrupt end and pop like many other speculative bubbles before it.
Sure, but when?