Bitcoin: is it a bubble waiting to burst or a good investment?

Bitcoin will be the fastest-growing asset inside the globe this year, however the virtual currency doesn’t seem to have several users in London’s tech district. It has been a lot more than a month since bitcoin was utilised to buy a flat white or craft beer sold at the Old Shoreditch Station, based on the hospitality manager at the east London bar.

Louis Chauvin admits he can not discover the iPad that is certainly utilized by staff for processing bitcoin payments, as he resumes serving customers queueing to pay with their contactless bank cards. Despite the fact that the establishment sits inside the capital’s buzzing tech hub, and is advertised on the web as one of several few retailers in London accepting the hipster-cum-computer nerds’ currency, as few as 20 people have asked to spend with it within the two years he has worked there.

Over precisely the same period, the value of a single bitcoin has rocketed from around $300 to more than $11,000 this week. On Friday, the currency was trading at $10,700.

Chauvin says bitcoin’s rising worth – and media coverage – has not escaped buyers. A lot more people have are available in asking how it performs, considering of making use of it in their own shop, as opposed to really paying with it, he says, adding: “It’s cool, it attracts some individuals. But for now it’s niche.”

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