Record prices seen for bitcoin in 2016 as fresh supply is halved

London

THE year 2016 could prove to be the year that the price of bitcoin surges again. Not because of any dark-Web drug-dealing or Russian ponzi scheme, but for an altogether less sensational reason - slower growth in the money supply.

Bitcoin is a Web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. But despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in.