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Cryptocurrency: A Financial Fad Or The Future Of Money?

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People are becoming more and more interested in digital currencies and the price of prominent cryptocurrencies like Bitcoin and Ethereum have skyrocketed.

Total crypto market value doubled in about two months earlier this year, pushing it past the $2 trillion mark for the first time in early April.

But highlighting its volatility, the price of Bitcoin — the world's most traded digital currency — reached a record high in mid-April, then took a plunge of around 30% in mid-May. Other digital currencies also saw sharp declines amid a broad cryptocurrency sell-off.

As of June 3, the global crypto market cap is $1.75 trillion.

What is cryptocurrency and blockchain technology? What are the different kinds and how do they work? What myths need busting?

Does virtual cash have real financial legitimacy? What are the conversion rates? How is cryptocurrency audited?

What should people know about investing in crypto? What are the risks? How volatile is the market?

What are the economic implications of crypto's rising popularity and increasing mainstream adoption?

How could it affect global financial markets? How could it be regulated?

Is crypto a fad, a scam, or the future of money and finance?

Guests:

"The Source" is a live call-in program airing Mondays through Thursdays from 12-1 p.m. Leave a message before the program at (210) 615-8982. During the live show, call 833-877-8255, email thesource@tpr.org or tweet @TPRSource.

*This interview was recorded on Thursday, June 3.