Bitcoin, the enigmatic virtual currency, which doesn’t require a financial institution as a middleman, may have a dark side.
Ontario Teachers’ Pension Plan chief investment officer Bjarne Graven Larsen told Bell Media’s Business News Network (BNN) that his fund isn’t buying into Bitcoin due to concerns about the illegally generated cash owing into cryptocurrencies. “We are a bit skeptical in the sense that it’s not really regulated; you’re not really sure who’s behind this,” Larsen told BNN. “Personally, I do not like the fact that you know there’s a lot of drug money, there’s a lot of illegal money in these cryptocurrencies.”
As of last October, bitcoin was worth four times more than the price of gold, according to The Guardian. ◊