Bitcoins: Mouth-watering returns, but unregulated
Which investment or asset has given the best returns from the March 2020 lows? If your answer is gold, you would be wrong. Gold has gained only around 30 per cent over the last five months. The gain in Nifty 50 is also around the same level. It’s bitcoin, the crypto asset, that has trumped them all with over 100 per cent returns, even as Covid-19 had the world in its grip. No wonder that bitcoin market places are doing brisk business and many investors are wondering if they should start putting some money into this asset.
If you are one such investor, here are a few things you need to know.
It’s not a currency
The term crypto currency or virtual currency is often used to describe Bitcoin, Litecoin, Dash, Etherium, etc. But that is a wrong description. While the creator of Bitcoin, Satoshi