Baker Jennifer Longson runs one of a handful of retail businesses that accept bitcoins as payment. Where some see twin bubbles, she insists cupcakes or bitcoins are sticking around.
Diane Swonk, chief economist with Mesirow Financial, joins Marketplace Morning Report host Jeremy Hobson to discuss the drop off in gold prices and whether there is such a thing as a safe haven anymore.
Digital currency Bitcoin has grown sensationally, with 11 million Bitcoins worth nearly $2 billion in circulation. It's the ultimate Internet-age currency: Bitcoin circulates only online, trades anonymously and isn't regulated by any government.
Whenever there's a big economic crisis, investors usually flock to the safety of gold or U.S. government bonds. But when things got crazy in the last couple weeks in Cyprus, it was something called Bitcoin that surged in value.