Bitcoin’s value has doubled four times this year, from US$1,000 to US$16,000. Photo: Bloomberg

Why bitcoin may be the new gold for savvy investors

Michael Edesess says bitcoin’s rapid gains don’t necessarily make it a bubble, and its price could keep rising because investors see it as a store of value, given its independence from inflation

Topic | Bitcoin

Michael Edesess

Published: 12:51pm, 12 Dec, 2017

Updated: 2:55pm, 20 Jul, 2018

Bitcoin’s value has doubled four times this year, from US$1,000 to US$16,000. Photo: Bloomberg

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Michael Edesess

Michael Edesess is chief investment strategist of Compendium Finance, adjunct associate professor at the Hong Kong University of Science and Technology and a research associate of the Edhec-Risk Institute.