Bitcoin voted as the ‘worst investment of 2014’
Digital cryptocurrency Bitcoin has been officially named the worst investment of 2014 by Business site Quartz, after revealing the ‘worst of the worst’ investments of the year.
In 2014 the Bitcoin value against US dollars dropped an incredible 52 per cent in value.
Greek stocks, by comparison, saw a fall of 28 per cent, much lower than the drop in Bitcoin worth.
“There was plenty of ugliness to be found in the markets this year,” wrote the site, “But none of these investments has been as atrociously awful as Bitcoin.”
At the moment, Bitcoin prices are up at $322.26 per coin, which translates to £206.45 sterling – still no sum to scoff at.
At the start of 2014, Bitcoin weighed up at somewhere around £740 per coin, seeing an April slump to around $400, and prices just keep falling.
It’s been a tough year for Bitcoin, largely thanks to the clamp down on the illicit Silk Road marketplace and the Mt. Gox cryptocurrency exchange.
Other entrants to the ‘worst of the worst’ investment roster included the Argentine peso with a 24 per cent fall, and Russian US dollar corporate bonds with an 18 per cent fall.
Via Trusted Reviews
