Business
Trillion dollar bitcoin bubble makes history – The Australian Financial Review
Bitcoin’s stunning rise has caught regulators unaware and left the financial services industry uncertain what to make of the controversial currency.
Bitcoins promoters insist theres nothing mad about it as a hedge against inflation and the money printing of central banks, which in itself has encouraged citizens to swap the non-existent returns on cash for bitcoin.
But Newton was correct to complain the madness of people cannot be calculated at a time when sophisticated markets for assets started to evolve.
Not long after the invention of European stock exchanges and subsequent South Sea Bubble, art dealers at Sothebys held their first auction…
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