Tired of bitcoin? Try marijuana, mulch-backed coin
Bitcoin has been on a roller-coaster ride, losing more than half its value last year.
Anthem Blanchard, CEO and founder of physical gold and silver broker Anthem Vault, thinks that his cryptocurrency, called the Hayek, will bring more stability to the Wild West digital currency marketplace. Matching the ancient currency of gold with a new medium of exchange makes sense, Blanchard said, adding, "Seeing bitcoin combined with gold is exciting. Crypto-gold is more secure and spendable."
Anthem Vault is no stranger to gold-backed cryptocurrencies. Last year the firm tested investors' taste for a gold-backed coin with its Independence offering, but that was linked to only a small amount of gold. So far, 700,000 Independence coins have been redeemed.
George Soros' son, Alexander Soros, has even invested in the Canadian start-up BitGold—which lets you redeem bitcoin for gold—through Soros Brothers Investments.
The gold-backed currencies are...
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