Sky-high valuations for bitcoin have helped the value of crypto currencies burst through $50bn, raising fears of an asset bubble in the unregulated market.

A growing number of alternative digital currencies — or “alt-coins” — is feeding the speculative frenzy with values in some rocketing as much as 500 per cent in the past week. A sharp spike in the price of bitcoin, which has risen 55 per cent this month and is worth more than gold.
The speculation has benefited anonymous payment systems, which are being used by cyber criminals executing widescale attacks such as the “ransomware” hack that spread across the world on Friday.

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Sky-high valuations for bitcoin have helped the value…

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