Subtitles section Play video Print subtitles The price of a single Bitcoin has climbed above $100,000 for the first time after rising nearly 140% this year. Investors expect President-elect Donald Trump to support cryptocurrencies. He's promised to make America the crypto capital of the planet and to create a national stockpile of Bitcoin. Let's get more on this now from Carol Alexander who's an expert in crypto assets and professor of finance at the University of Sussex. Thank you for joining us, Carol. So first of all, just explain, because there's plenty of different cryptocurrencies out there. So just explain what is Bitcoin and why is it valued this way? Bitcoin is like many other crypto assets, which are tokens that are supposed to have some sort of value transferred on a blockchain. They're called crypto because a blockchain is blocks of information that are linked cryptographically. And there are hundreds of thousands of these things. Some of them, like Bitcoin and also another one called Ether, are the tokens that are produced by building the blockchain. And something like Ether probably has an intrinsic value because the Ethereum blockchain that Ether is driving is underpinning the whole of the new digital economy on sophisticated blockchains. But Bitcoin was just introduced as the first and it is the largest. I mean, it's like two trillion, the value of the 20 million bitcoins there are now, which is half, more than half of the entire value of all the crypto assets. So it was the first original one, but it was just built as a sort of toy example of what a blockchain can do. And Carol, sorry to cut you off there, but just to go back to the rise in value then, I know that you don't have a crystal ball. No one does. But do you think that this will continue or do you think it's likely to fall soon? What are your expectations? I think it will continue. It's always very, very volatile because the price of Bitcoin is made on these unregulated exchanges where very, very large trades, highly leveraged, push the price up with this bit of good news. And there's been a lot of good news since Trump, for crypto at least, since Trump got elected. But then this price can fall again. I mean, three years ago, I made the prediction that its price would go down from $60,000 to $10,000 or $15,000. And it went to actually around $15,000 over that year. But this year, I have been successfully predicting it for three years in a row and I'll do the same. I'll make another prediction. It may not be successful. But I do think that this year it's going to go up to $150,000 or $200,000. And it's a pity because young people are drawn in. They feel this FOMO, fear of missing out. And the people that are really making money are the professional traders creating the volatility. Well, given that you have made predictions successfully in the past, Carol, I would definitely fancy your odds. Well, we'll leave it there now. But thank you so much for giving us an overview and giving us your analysis there. Thank you. That's Carol Alexander, who's an expert in crypto assets and Professor of Finance at the University of Sussex.
B1 US crypto blockchain carol price ether sussex Price of Bitcoin surpasses $100k for first time | BBC News 10798 76 VoiceTube posted on 2024/12/06 More Share Save Report Video vocabulary