Bitcoin’s Rally Crushed Every Other Currency in 2016. Here’s Why

Via Olga Kharif @ bloomberg.com

  • “Bitcoin, that nebulous digital currency that trades in cyberspace and is “mined” by code-cracking computers, emerged as a better bet this year than every major foreign-exchange trade, stock index and commodity contract”
  • Global restrictions on sovereign currencies are playing a major role in driving increased bitcoin demand. The Chinese government, for example, made it more difficult for people to move the nation’s currency and spend it overseas, leading to trapped liquidity. That’s made bitcoin, which is not controlled by any government or central bank, more attractive”

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