A bitcoin convention in Sydney rings crypto alarm bells
Bitcoin is up almost 130 per cent this year and the US election result put a rocket under crypto. But there are still plenty of ways to lose money in an (unregulated) bull market.
Australians own $20 billion in crypto and a bitcoin is now worth more than a kilogram of gold but is it all hype? AFR
The euphoric mood of the Australian Crypto Convention was established before thousands of people entered the doors in Sydney last weekend. Trance music was pumping from a DJ booth, next to the main ticket desk.
In the International Convention Centre in Darling Harbour, laser lights with the event’s name are scrolling the walls. At the entrance, a giant, orange, inflatable bull, horns pointing skywards, is advertising a $10,000 bitcoin giveaway for punters who signed up to the crypto exchange.
James EyersSenior ReporterJames Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
