It’s no secret that digital currencies such as Bitcoin and Ethereum are gaining popularity. The cryptocurrency market’s valuation has grown to trillions of dollars in nearly the blink of an eye. It’s not just young, tech-savvy investors fueling this growth either. Investment banks, pension funds, and even university endowments are investing in cryptocurrency these days. After all, with such tremendous upside potential, few can resist the temptation to grab a slice of this pie.
Despite the seemingly widespread appeal, though, there is no single answer as to whether digital currencies represent a good investment or not. It doesn’t help that the underlying topic is extremely divisive either. While some believe that cryptocurrencies are worthless because they aren’t backed by anything tangible, others consider the lack of authorities as a key selling point.