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There’s no doubt Bitcoin’s price has fluctuated dramatically over the last 2 years, reaching almost $20,000 in December 2017 before imploding below $3,500 in November 2018. It now trades at $7,475 as of this writing, down from almost $12,000 in August this year. Sometimes stock prices for individual companies can change substantially too. For example, GE’s price fell off a cliff over the last 3 years, dropping from about $30 in late 2016 to about $10 today. But that’s a notable exception, and not as fast moving compared to Bitcoin. For the most part, stock market prices for individual companies aren’t so volatile, especially ones with predictable business models and multi-billion dollar market capitalizations. We plotted the stock prices according to Yahoo Finance for the 10 largest companies measured by market capitalization. We found the stock prices as of January 2, 2009 with the exceptions of Bitcoin, Facebook and Alibaba, which weren’t public yet. We compared these numbers to the market price on December 3, 2019, excluding stock splits and dividends. If a user or application submits more than 10 requests per second, further requests from the IP address may be limited for a brief period.
Is it legal to sell Bitcoin for cash?
Selling Bitcoin as a Business
While it is not illegal to buy and sell Bitcoin per se, four people have been arrested for exchanging the cryptocurrency for fiat. The charge? Operating a money transmission business without a license.
And it turns out, even with the stock market rising to all-time highs and Bitcoin suffering another pullback, investing in cryptocurrency very early on was still a brilliant strategy. Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Bitcoin has received its fair share of negative attention despite its performance. Jim Cramer lampooned the cryptocurrency as “Monopoly money,” predicting it would get “annihilated.” Jamie Dimon famously called Bitcoin a “fraud” before his bank started investing in blockchain technology. And a major study accused Bitfinex of intentionally manipulating the entire Bitcoin market, thereby swindling investors of their money. Alibaba’s stock performed the worst in our analysis, barely doubling an initial investment of $100 to $208. Only 3 other companies generate returns above $1,000, including Apple ($2.4K), Visa ($1.7K) and Microsoft ($1K).