With Bitcoin topping $10000 once again, is now the time to invest? – The National

With Bitcoin topping $10000 once again, is now the time to invest? – The National

Bitcoin is the most popular virtual currency in the world.. It was created in 2009 as a new way of paying for things that would not be subject to central banks that are capable of devaluing currency.. A Bitcoin itself is essentially a line of computer code.. There are sustainability concerns around the cryptocurrency, which stem from the process of "mining" that is central to its existence.. The "miners" use computers to make complex calculations that verify transactions in Bitcoin.. This uses a tremendous amount of energy via computers and server farms all over the world, which has given rise to concerns about the amount of fossil fuel-dependent electricity used to power the computers.. The first thing is not to get carried away by the current price surge, because there is no guarantee it will last.. Mr Chambers is not averse to making risky calls.. You can walk through any airport with $1 million of Bitcoin, and nobody is going to stop you," says Mr Chambers.. Global fear of the coronavirus is also creating demand, and is one of the factors driving the price right now," he adds.. The cryptocurrency has quietly risen from the ashes of despair," says Mr