Episode 450: Bitcoin Goes To The Moon
Since the start of the year, the Japanese yen has risen by about 12 percent against the dollar. The euro has fallen by about 1 percent.
Then there's bitcoin, a virtual currency that doesn't even exist in the physical world. In the past few months, the value of bitcoin has risen by more than 1,000 percent — from less than $20 per bitcoin a few months ago to more than $200 today.
On today's show, we ask: Is a skyrocketing value a good thing or a bad thing for bitcoin?
For more, see our bitcoin stories from 2011:
Music: Stars' "Backlines." Find us: Twitter/ Facebook/Spotify/ Tumblr. Download the Planet Money iPhone App.