-
What's driving the bitcoin mania
Skeptics have dismissed the massive runup in Bitcoin over the past two months as another example of rampant retail trader speculation that is bound to end in tears. Driving the news: The cryptocurrency jumped from around $14,000 per coin on Nov. 3 ($10,500 as recently as Oct. 3) to more than $34,000 on Sunday, then dipped by $5,000 overnight. But this time really is different. What's happening: This time it's the institutional investors who have FOMO. Big names like JPMorgan, Guggenheim, FundStrat's Tom Lee, hedge fund legend Paul Tudor Jones and 169-year-old insurance giant MassMutual have recently given their seals ... (full story)
