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Bitcoin Price Beats One Apple Share, but Is It Worth … – Yahoo Finance

Bitcoin Price Beats One Apple Share, but Is It Worth … – Yahoo Finance

The upstart electronic currency bitcoin has soared from zero five years ago and under $150 apiece six weeks ago to above $600 Monday – more than a share of Apple Inc. (AAPL) is worth, and quite a sum for an instrument with only limited use as money and which few consumers understand.

The confusion surrounding bitcoin, which has attributes both of a currency and a speculative investment, has prompted U.S. authorities to weigh in on its legitimacy.

The Justice Department told Congress that it and all electronic payment technologies have benefits for consumers, while of course asserting it will seek to root out any illicit transactions made in bitcoin. The Securities and Exchange Commission, meantime, suggested bitcoins “likely” meet the definition of securities, and thus could be subject to SEC regulation.
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