Bitcoin: a bubble or digital gold? Since Bitcoin was invented in 2008, many investors in the market have considered it as a unique digital commodity, and its value has skyrocketed over the past few years.
In 2010, the first known commercial transaction was to use 10,000 Bitcoins to buy two pizzas -- with a value of around US$40. Today, a single Bitcoin is worth more than US$45,000. The explosive growth and volatile price fluctuations have initially attracted retail speculators, but we are seeing more mainstream adoption as the likes of Tesla start to take large positions in digital assets, such as Bitcoin.
In any case, the rationale for being involved in this new and exciting market varies widely. Since the outbreak of the pandemic in 2020, the market value of Bitcoin has hit new highs, heating up the long-standing debate over Bitcoin and the wider cryptocurrency markets. While regulators have warned that Bitcoin, the first virtual asset, is highly risky due to the currency's wild price swings, both its old and new supporters say that Bitcoin is not just a digital asset to be traded, but can also act as a store of value during uncertain times.
To help members better understand Bitcoin, the Chamber's Young Executives Club (YEC) is delighted to present a webinar on 12 April, where Adrian Lai, CEO of Liquefy, and Kevin Loo, Senior Portfolio Manager of New Vision Asset Management Ltd, will share and discuss the concepts and applications behind both Blockchain and Bitcoin, and how investors can benefit from diversifying their portfolios while retaining high levels of income.