By Lee Kyung-min
Bitcoin is back in spotlight as it has continued an upward spiral amid lingering uncertainty caused by the fallout of the COVID-19 pandemic, sparking debate over the future course of the digital currency.
Opinion is split over whether bitcoin could replace gold as a safe haven asset.
Some say this is possible since the gold price has peaked and bitcoin is increasingly being embraced by institutional investors who tend to seek stability over short-term profit.
Others say this claim lacks merit because the speculative asset with high price volatility has a variety of "operational" risks.
Bitcoin has fallen precipitously in the past few days and is hovering at around $18,000 (19.6 million won) after hitting an all-time high of $19,462.14, Dec.3 (local time). During 2020 the value of the cryptocurrency has risen about 170 percent.