Nowadays the bitcoin fever seems to have spread around like a plague. Day after day the media reports about the new records set by the Bitcoin currency and people think that investing in Bitcoin is a quick way to get rich.
In the United States of America, cryptocurrency news are covering the fact that many people have maxed out their credit cards and mortgage their homes to buy bitcoins. Moreover, CBOE Global Markets launched futures contracts for bitcoin which allows investors and speculators to bet on the future price of the Bitcoin currency.
This situation has determined the SEC ( Securities and Exchange Commission ) to send out a warning. According to a statement issued by the SEC, virtual currencies are not yet regulated and people need to be very well informed before making such investments.
Joseph Borg, the President of the North American Securities Administrators Association said that Bitcoin and other virtual currencies are still not regulated. According to Borg, the blockchain technology behind virtual currencies will continue to exist and will be used in other fields, just like virtual currencies in one form or another, but the fact that the bitcoin will survive backdoor interests is not a sure thing.
At the beginning of 2017 the Bitcoin was worth $1,000 and most recently it has surpassed the $19,000 milestone on the Coinbase platform.