A frenzied demand for bitcoin in South Korea has buyers in the east Asian nation now paying premiums of more than per cent compared with international rates. The cryptocurrency on Thursday surpassed $, as the global speculative boom showed no signs of slowing down. But nowhere is .The craze has spread so far that, in Korea, bitcoin is trading at a premium of about percent over prevailing international rates. While neighboring Japan hosts more transactions by some measures, Korea punches far above its weight In the hour period through Wednesday evening in Seoul, about .Buying spree, including by children, comes despite government warnings over dangers .In the South Korean cryptocurrency exchange market, bitcoin is being traded with over million won US$ . Accordingly, market experts express concerns that this is an abnormal overheating phenomenon, with institutional investors, casual traders, and individual investors rushing to invest in bitcoin .
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Mr. Michael Pento serves as the President and founder of Pento Portfolio Strategies. He is a well established specialist in the Austrian School of economics and a .
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