In an article published in the Upstate Business Journal, Greenville partner and head of the Financial Institutions Corporate and Regulatory Practice Neil Grayson weighs in on the rising popularity of cryptocurrencies. The article “Dogecoin … Bitcoin … what’s an investor to do?” discusses the gray area of cryptocurrency investment.

“Bitcoins and other cryptocurrencies, like Ether and Dogecoin, are digital currencies and Bitcoin is the most popular cryptocurrency,” Grayson said. Cryptocurrency can be potential replacements for the U.S. dollar and other fiat currencies, but Grayson says to proceed with caution. “Neither Bitcoin nor any other cryptocurrency is anywhere close to having a stable valuation yet, so they are all still very speculative investments,” he said. “Their current valuations are driven more by emotion rather than rational analysis.”

Grayson primarily represents financial institutions, FinTech companies, and alternative…

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