It may not be the most important story ever, but over the weekend, the rise and fall of BitCoin was THE story. Move over Brexit.
BitCoin, that little bit of encrypted nothingness, was worth a bare $10,000 last week, but it surged on Friday, topping out over $19,000 on some exchanges. Since then it’s been a rough ride, which has seen the currency fall to as low as $13,500 - before seeming to uncomfortably settle in around $15,000.
Just what happened to drive this controversial currency to such heights? Ed, Sarah and I talk - or more accurately argue - about just what is going on. While we all seem to agree there is a place in the world for cryptocurrencies, that agreement comes to sudden halt over just why it has any value at all. We also have very different ideas on where it’s going. Ed and Sarah are very positive about it future. I tell them why they’re wrong. (Spoiler alert: they don’t care.)
We also talk about events coming in the week ahead, which includes the meeting of three major central banks (can you say “rate increase”?) and the Arab Strategy forum, which will include Ian Bremmer and Joseph Stiglitz, the Nobel prize winner in economics who thinks BitCoin should be outlawed.
Just sayin’.
