Bitcoin is a computerized and digitally distributed currency. The first version of Bitcoin was developed in 2008 by a group of people calling itself Satoshi Nakamoto. The uniqueness of Bitcoin is that it is a completely self-contained coin that does not depend on any economic body whatsoever.
"It does create a rising price, creates more buyers ... If you don't understand it, you get much more excited," Buffett said on CNBC television. "People like to speculate, they like to gamble."
Cryptocurrency is a force to be reckoned with and will become an integral part of our lives in the years to come.
At least several thousand Israelis have invested in digital currencies, raising questions as to taxation.
Bitcoin has been in the news of late, but many are in the dark about this new currency."In Jerusalem" offers a ‘Bitcoin 101’ on digital assets designed to work as a medium of exchange.
The IRS considers cryptocurrencies such as bitcoin as property for federal tax purposes, meaning any profits or losses from the sale or exchange of the virtual coins should be reported.
The Israeli government has published and circulated a draft proposal with Israel’s Tax Authority looking to introduce VAT on ICOs.
The latest tumble leaves bitcoin more than 40 percent down from the record highs of around $20,000 reached in mid-December.
The shift in sentiment towards ICOs could incentivize more Israeli start-ups to enter the ICO market.
Buffett's comments come a day after JPMorgan & Chase Chief Executive Jamie Dimon said he regrets calling bitcoin a fraud.
There have been public complaints that Israeli banks were making it difficult for some customers to transfer money from their accounts to buy bitcoin.
These days, newspapers and websites are full of stories about cryptocurrencies, virtual currencies, and bitcoins. Confused? Here is a ‘guide for the perplexed.'
Bitcoin plunged by 30 percent to below $12,000 on Friday as investors dumped the cryptocurrency after its sharp rise to nearly $20,000.
The Bank of Israel has been examining the possibility of a state-sponsored currency for several months.
Interest in cryptocurrencies has surged not just in Israel but around the world.
Bitcoin – a digital payment method – has taken off in the past few months.
The one-month bitcoin contract opened trade at 6 pm (2300 GMT) at $15,460, dipped briefly and then rose to a high of $18,700.
The latest fall has tempered an astronomical rise for the cryptocurrency in recent months - bitcoin was up almost 1,100 percent year-to-date on Wednesday.
At 0245 GMT, it hit a high of $10,069.12 on BitStamp and was up 2 percent on the day.
A five-day program sponsored by various government agencies will immerse attendees in the world of the leading cryptocurrency.
Israeli companies on board with cryptocurrency technology that has helped revamp archaic banking systems.
Israel Tax Authority issued a draft tax circular on January 11 that details its position on the taxation of activity in virtual currencies such as bitcoins.
The rise of the Israeli Crypto Industry.
Beny Steinmetz, also a political operative, lashed out at the "authoritarian" Israeli government in court on Monday.
Israeli-American entrepreneur Galia Benartzi was speaking at TEDxWhiteCity about the potential of the first-ever "people’s money."
On Sunday, the company announced that it would create a fintech innovation lab in association with The Floor, a fintech hub based at the Tel Aviv Stock Exchange.