How a $53m heist could make this crypto-currency more valuable

Ethereum, a “decentralised, bulletproof” computing system based on the blockchain, has suffered a $53m theft. But oddly, says Mischa Frankl Duval, that could prove a stroke of good fortune.

160621-ether

Ethereum: no such thing as bad publicity

Blockchain enthusiasts are a lot like gold bugs: no matter how the market's moving, they stick to their guns. Downward price action is irrelevant; in the long run, the price of their chosen commodity will go up. It just has to. It makes so much sense.

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Mischa graduated from New College, Oxford in 2014 with a BA in English Language and Literature. He joined MoneyWeek as an editor in 2014, and has worked on many of MoneyWeek’s financial newsletters. He also writes for MoneyWeek magazine and MoneyWeek.com.