You may have seen the term “bitcoin” in the financial news recently. Actually, bitcoin has been around since 2009.
On 12/11/17, bitcoin futures began trading on the Chicago Board Options Exchange (CBOE). Bitcoin is estimated to have a current market capitalization of about $300 billion. After reaching a high of $18,674 per bitcoin in December, it dropped as low as $7,100 in early February and was trading at about $8,750 per bitcoin as of 2/12/18 (see chart below).
A retirement plan mandated to protect beneficiaries' assets should avoid investing in bitcoin due to its volatility, short history, regulatory risk and security concerns.
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