Why Bitcoin is Not a Threat to the U.S. Dollar

by Chris Mayer
Daily Reckoning

The best place to park some cash in the last five years was in Bitcoin, the digital currency.

Bill Bonner wrote recently in a note to members of his family office (of which I am one):

“The value of [Bitcoin], per unit, has gone from under 10 cents when it emerged, in 2008, to $754 at this writing. If you’d put in $10,000 a few years ago, your stake would be worth over $75 million today.”

There’s nothing that has come close to that.

Which inspires the thoughts that follow. Below are some speculations about the nature of money, Bitcoin, the U.S. dollar and the wealth-generating power of a simple coffee can.

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