Jason Farrell

The Bitcoin phenomenon has undeniably made an impression in the investing, technology and political worlds this year, having enjoyed a meteoric rise from around $12 per coin in January to over $1,200 just one month ago. Now with tentative approval from the Federal Reserve, the U.S. Senate, Fidelity Investments, wealthy investors, and even the founder of Paypal, its future seems bright as the year draws to a close. Even naysayers are now lamenting that they should have “invested earlier.”

Bitcoin’s explosion is something even many of its fiercest advocates didn’t forsee. The famous Winklevoss twins are now claiming Bitcoin will expand to a $400 billion dollar market. By then, the famously “unbacked” coins could be worth tens or hundreds of thousands of dollars.

If the whole thing moved to fast for you to keep track of, check out this great breakdown of the evolution of Bitcoin from Visual Capitalist. From its genesis at the hands of the mysterious Satoshi Nakomoto, to its use in the notorious Silk Road marketplace and explosion into the media spotlight, its all here.

Bitcoin_08

Jason Farrell

For The Daily Reckoning

Ed. Note: The future of Bitcoin remains to be seen. But rest assured the Laissez Faire Today email edition will be following it very closely. If you want the most up-to-the-minute research on this and other freethinking topics, you owe it to yourself (and your portfolio) to sign up for the FREE Laissez Faire Today email edition.

You May Also Like:


The Long-Term Case for Bitcoin

Steve Patterson

Bitcoin may (or may not) be just a passing fad. Only time will tell. But for those who insist that Bitcoin is not currency are seriously mistaken about what a currency is. Steve Patterson explores this topic and explains why Bitcoin may actually have many properties that might make it viable in the long run. Read on...

Jason Farrell

Jason M. Farrell is a writer based in Washington D.C. and Baltimore, MD. Before joining Agora Financial in 2012 he was a research fellow at the Center for Competitive Politics, where his work was cited by the New York Post, Albany Times Union and the New York State Senate. He has been published at United Liberty, The Federalist, The Daily Caller and LewRockwell.com among many other blogs and news sites.

Recent Articles

Your Brain — Addicted to Reward

Stephen Petranek

A study published in the most recent issue of The Journal of Neuroscience was sparked by researchers who wanted to find out why cocaine addicts so frequently relapse despite sincere attempts to recover from their addiction. Stephen Petranek has more…


How to Profit from the Rise of the “Beer Snob”

Greg Guenthner

While smaller microbrews might not be the best investment right now, I think the trend of better beer isn't going anywhere. And the bigger breweries are realizing they need to figure out how to compete in a market where tastes are clearly evolving.


A Killer Trade: Make the Grim Reaper Pay

Greg Guenthner

…the grim reaper doesn't exactly make for a sexy sales pitch. Think about it. Why would a trader want to buy death care stocks when he could just as easily play the latest social media IPO? Nobody wants to talk about death. I can see you practically squirming in your chair right now just reading this.