Video Duration 24 minutes 20 seconds
From: Inside Story

Should the world embrace cryptocurrencies?

America’s oldest bank says it plans to hold, transfer and issue digital currencies.

For the first time, the United States’s oldest bank, BNY Mellon, says it plans to offer some cryptocurrency services.

That is good news for digital currencies like Bitcoin – which has been soaring to all-time highs.

While investing in it can be a rollercoaster ride that comes with many risks, that has not stopped the chief executive of Tesla, Elon Musk, from purchasing a $1.5bn stake in it.

As well as investing in Bitcoin, Tesla is now expected to accept the virtual money as a form of payment.

As the prices of digital assets continue to rise, what will this mean for the global economy?

Presenter: Kim Vinnell

Guests:

Glen Goodman – Financial investor and author of The Crypto Trader

William Cohan – Former mergers and acquisitions investment banker and writer

Celso De Azevedo – International cyber lawyer and barrister at 36 Commercial