Bitcoin 'fascinating' because of risk-taking, fund manager says

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lately bitcoin is very warm in talks, because it has an increasingly increasing sales value. from some news I just found a video that was publish by CNBC. where it says that:

"Earn Lonergan, macro fund manager at M & G, told CNBC on Tuesday.

"But what this is telling you on the ground is the people's experience of economic conditions is actually a good one, and so are they willing to take a risk."

"Ultimately, they have an intrinsic value of zero, and they are willing to change their careers, they're willing to speculate ... If you go out to a group of people now there are more than two or three people present, bitcoin comes up and they ask all of us what's happening with bitcoin or some other cryptocurrency. "

Bitcoin prices rose more than 1,200 percent over the course of 2017 but have fallen steeply since a peak of $ 19,343.04 in December, according to Coindesk data.

A number of high-profile business figures and regulators have raised concerns about bitcoin, and cryptocurrencies more generally, over their wild volatility and use in illicit activities.

J.P. Morgan CEO Jamie Dimon called bitcoin a "fraud" in September last year, but on Tuesday told Fox Business that he regretted those comments, adding that he is not interested in the subject at all.

China has also taken action to clamp down on virtual tokens, and in 2017 moved to close domestic bitcoin exchanges.

The introduction of bitcoin futures contracts by Cboe and CME last year led to optimism from experts hoping more institutional investors would start to participate.

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