Bitcoin Surges Despite Being Called A Particularly Vile Asset Class
The fault lines are becoming increasingly stark as the cryptocurrency’s price continues to climb and critics express serious doubts. Tim Bond, partner and portfolio manager at Odey Asset Management in London, recently grabbed headlines by saying Bitcoin has no real purpose except as a speculative tool and, in some cases, as a way to launder money for illegal activity. “If Bitcoin starts to displace fiat currencies, governments’ ability to tax, spend and redistribute will be severely impaired,” he told MarketWatch....