Tyler Cowen, Columnist

Bitcoin Is a Bit of a Miracle at Any Price

The trading range of $15,000 to $20,000 doesn't seem crazy when you compare it with other assets.

December 11, 2017 at 12:09 PM EST

Tyler Cowen is a Bloomberg Opinion columnist, a professor of economics at George Mason University and host of the Marginal Revolution blog.

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There is a joke circulating on Twitter: “A boy asked his bitcoin-investing dad for 1 bitcoin for his birthday. Dad: What? $15,554??? $14,354 is a lot of money! What do you need $16,782 for anyway?”

To put it mildly, the price of bitcoin has been volatile as of late. Last week, the price rose about 40 percent in 40 hours, with plenty of seesawing before and after.1513010651483

Before it’s here, it’s on the Bloomberg Terminal

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