People are mortgaging their houses to buy Bitcoin

From Engadget - December 12, 2017

Still, it seems some people are not paying heed. A bunch of wannabe investors are even going so far as to take mortgages out to buy bitcoin, while others are running up credit cards and turning to equity lines. That's according to securities regulator, Joseph Borg.

As the president of the North American Securities Administrators Association, he knows a thing or two about this stuff. Bitcoin is in the "mania" phase, Borg told CNBC in reference to the frenzy around the currency. And, while the launch of the first US Bitcoin futures exchange by Cboe is dragging it into the financial mainstream, that does not mean it will go the distance, according to Borg. He added that the currency is still not regulated, with regulators struggling to keep pace with the tech's innovation.


Continue reading at Engadget »