# Prof. David Yermack on Bitcoin as an investment

1 Faculty News March 5, 2014 ![CNC World logo](/sites/default/files/styles/246w/public/assets/images/con_031421.jpg?itok=hGe_2JA_)>

Excerpt from [CNC World](http://en.cncnews.cn/news/v_show/39072_Controversy_on_Bitcoin_investment.shtml) -- "Bitcoin is incredibly risky and there is no intristic value behind it. If you invest in a stock, there is a company paying dividends that supports the value of a stock. If you invest in a government bond, you have the government’s promise to pay interest; with Bitcoin, all you really have is hope."

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