Everyone’s talking about the fast growing digital currency Bitcoin. Jamie Dimon hates it, Marc Andreessen loves it, and Alan Greenspan thinks it’s a bubble with no intrinsic value.
I think Bitcoin reflects the fact that while commerce is increasingly global and digital, money isn’t. But while Bitcoin may gain traction as a safe, easy to use retail currency in the digital era, I’m not so sure it will ever be a global currency a la the dollar or euro, one in which debt is issued or stocks traded. After all, it has no sovereign to guarantee its value and no central bank to regulate its ups and downs (which tend to be sharp).
For more on whether you should be buying into Bitcoin, check out this week’s version of WNYC’s Money Talking.
More Must-Reads From TIME
- The Biggest Moments From the Second Republican Debate
- Rooftop Solar Power Has a Dark Side
- Death and Desperation Take Over the World's Largest Refugee Camp
- Right-Wing's New Aim: a Parallel Economy
- Is It Flu, COVID-19, or RSV? Navigating At-Home Tests
- Kerry Washington: The Story of My Abortion
- How Canada and India's Relationship Crumbled
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
