A Very Bitcoin Thanksgiving
They tell us that bitcoin is a currency. At least, Wikipedia and the early supporters of bitcoin tell us that. If that's the case, we figured that a great way to celebrate Thanksgiving 2013 would be to use bitcoin exclusively to buy a Thanksgiving dinner.
But could it work?
Lately, the digital currency has had its day in the sun. Federal Reserve Chairman Ben Bernanke had some supportive words for it last week. And at a congressional hearing on virtual currencies, bitcoin caught a huge tailwind as some regulators noted that there are distinct benefits to currencies like bitcoin.
And if the dollar-to-bitcoin exchange rate is a sign of the growing confidence in its future, then the future looks darn bright. Over the past month alone, the price of one bitcoin has more than quadrupled to -- as of this writing -- more than $900.
But the Bernanke bump and a soaring price don't guarantee that merchants will jump to take our bitcoins. In the video below, Motley Fool analysts and Where the Money Is co-hosts Matt Koppenheffer and David Hanson put bitcoin to the test as they venture out into the real world and shop for Thanksgiving dinner.
It's almost 2014. Do you know where your home run is?
The market stormed out to huge gains across 2013, leaving investors on the sidelines burned. However, opportunistic investors can still find huge winners. The Motley Fool's chief investment officer has just hand-picked one such opportunity in our new report: "The Motley Fool's Top Stock for 2014." To find out which stock it is and read our in-depth report, simply click here. It's free!
The article A Very Bitcoin Thanksgiving originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.