By Chris Skinner via Iris.xyz
I’m being asked this a lot as the value of bitcoin and other cryptocurrencies have increased ten-fold in the past few weeks.
Good for those who have some. Bemusing for those who don’t. There are a range of factors driving the rise in cryptocurrency prices, particularly the craze for Initial Coin Offering (ICOs). An ICO is an unregulated means to raise funds for a new cryptocurrency venture, and the recent ICO by Gnosis sparking great interest at the start of the month. There’s also underperforming Chinese markets and increased demand for the cryptocurrency in a number of Asian countries, particularly Japan where bitcoin is semi-legitimised.
For a full background briefing on what’s going on, I can’t recommend more highly than watching this 19 minute interview with Izabella Kaminska, our good friend at FT Alphaville who will be starring at the Financial Services Club on July 4.
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