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Bitcoin cash came out of left field, according to Charles Morris, a chief investment officer of NextBlock Global, an investment firm with digital assets.
To be sure, only a minority of bitcoin miners and bitcoin exchanges have said they will support the new currency. Investors who have their bitcoin on exchanges or wallets that support the new currency will soon see their holdings double, with one unit in bitcoin cash added for every bitcoin. But that doesn't mean the value of investors' holdings will double. Because bitcoin cash initially drew its value from bitcoin's market cap, it caused bitcoin's value to drop by an amount proportional to its adoption on launch.
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Fiat Currencies. Bitcoin Currency Converter More Quickly and easily calculate foreign exchange rates with this free currency converter:. Add Close. BTC Currency Snapshot 23, What is Bitcoin? Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously. They receive bitcoins in exchange. The coins also can be bought and sold on exchanges with U. Some businesses also accept bitcoin, but its popularity has stalled out in recent years.
Bye, Bye ! Money tips for the new year: Here are 21 ways to reduce debt, build an emergency fund in The fervor and interest in bitcoin heading into its trading debut pushed the digital currency to record highs. But once the trading began, bitcoin futures fell sharply over the course of several months. Investors and bitcoin enthusiasts at the time said the jump was largely caused by speculative interest and media attention.