Bitcoin was created eight years ago, and at the onset, it was worth pennies. But over the last year, the price started to soar, peaking for a brief time as high as $18,000.
Some analysts believe Bitcoin could goes as high as a $100,000 before crashing to zero – becoming worthless.
The investment frenzy includes reports of people taking out second mortgages to invest for their retirement and homes being sold only in Bitcoin.
There are plenty of skeptics, including billionaire Warren Buffett who called the currency basically a “mirage.” And Jamie Dimon, the CEO of financial powerhouse JPMorgan Chase, thinks it’s a “fraud.”
Is Bitcoin the equivalent of buying a lottery ticket?
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