Poll: Should businesses buy Bitcoin?


Image: iStock / merznatalia

Think you’ll never need Bitcoin? Think again. Though the virtual currency isn’t yet mainstream, the technology at the heart of Bitcoin is undeniably powerful. Bitcoin has carved a few niche markets, including futurists, hackers, and black market profiteers.

Fueled by Bitcoin, one of those markets, ransomware, is on the rise. Danny Palmer, writing for ZDNet, reported recently:

Ransom demands are typically made in Bitcoin, the cryptographic digital currency based on Blockchain distributed ledger technology, which offers a secure, often untraceable, method of making and receiving payments — a perfect currency for those who want their financial activities to remain hidden.

READ: Cybersecurity spotlight: The ransomware battle (Tech Pro Research report)

All business is subject to hack attack. Though best practices always advise against paying ransom, sadly, companies are sometimes (and sometimes not) forced to fork over Bitcoin to decrypt essential files.

There are also dozens of above board reasons smart startups are investing in Bitcoin and the blockchain.

Should business—SMBs, startups, and enterprise—own or trade Bitcoin? Why or why not? Respond to the survey below and leave your thoughts in the comment section.

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Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.