The explosive rise in its value has now surpassed even the ‘tulip mania’ of the 17th century, when the flowers were at the centre of a huge financial bubble, The Times reports. During the tulip bubble, vast stretches of land and other traditional assets were traded for bulbs in a craze that lasted until its dramatic collapse in 1637. But the New Largest bitcoin miners company Convoy Investments has now shown the value of a bitcoin has grown more rapidly over the last three years than the price of a tulip did in the three years preceding the flower crash in the 17th century. Royal Bank of Scotland chairman Sir Howard Davies, meanwhile, warned in epic terms of a bleak future: ‘Put up the sign from Dante’s Inferno — “Abandon hope all ye who enter here” — I think that’s probably what’s needed.
He also told Bloomberg that central banks are ‘anxious’ about bitcoin. Another man warning about the currency is Robert Shiller, a Nobel prize-winning economist. He told The Times that bitcoin ‘will crash’, adding: ‘It’s done that already and it’s going to do it again. But Shiller also said that the currency is ‘not totally crazy’, explaining that it is a ‘new technology’ with ‘the same mystery of value as real money, and real money persists’. But worries that a bitcoin crash will wreck the global economy have been dismissed by central banks around the world – including the Bank of England. The company has reported the incident to police and told users to change their passwords.
We are working to verify the precise number of bitcoin taken. Bitcoin has long been a target for hackers. 700million at the time – were stolen from Japanese bitcoin exchange Mt Gox, rendering it bankrupt. 1,000 in less than a day. 1,000 at the beginning of the year. Bitcoin is the world’s most popular digital currency.