Magazine
Latest Issue

What investors need to know about Bitcoin

This asset is not getting any less volatile. So what explains the latest spike?

By Andy Davis   March 2021

Photo: Bitcoin

By the time you read this, gravity may have reasserted itself, but by early January the price of Bitcoin had rocketed to a record high above $40,000, doubling in a month. This capped a vintage year for the original cryptocurrency—a type of global, digital money whose integrity is guaranteed by an online database rather than government or central bank oversight. Its price almost quintupled during 2020, despite the crash in world markets earlier that year. 

We’ve been here before. The last spike was 2017, when BTC started the year below $1,000 and peaked at $19,000, before crashing to…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect