“It is estimated that 50 to upwards of 90 per cent of bitcoin owners are speculators – thereby contributing to the substantial price fluctuations seen recently,” said the report by the International Institute of Finance. Photo: Thomas Yau
“It is estimated that 50 to upwards of 90 per cent of bitcoin owners are speculators – thereby contributing to the substantial price fluctuations seen recently,” said the report by the International Institute of Finance. Photo: Thomas Yau
Bitcoin

Banking group sceptical about bitcoin's future, calling currency 'inherently fragile'

Market dominated by speculators rather than users, making price volatile, report says

“It is estimated that 50 to upwards of 90 per cent of bitcoin owners are speculators – thereby contributing to the substantial price fluctuations seen recently,” said the report by the International Institute of Finance. Photo: Thomas Yau
“It is estimated that 50 to upwards of 90 per cent of bitcoin owners are speculators – thereby contributing to the substantial price fluctuations seen recently,” said the report by the International Institute of Finance. Photo: Thomas Yau
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