Vanishing acts are coining it

The world saw a few economic and financial firsts last week — or did it? On Wednesday Snap, which owns the messaging app Snapchat, raised $3.4bn in the third-largest initial public offering. Snapchat’s major selling point is that it disappears.

On Friday, it was reported that bitcoin had “soared” past the value of gold for the first time. In the report, bitcoin was referred to as a virtual currency, a digital currency and a crypto-currency, and its success was described by one analyst as “arbitrary”. The Insider can only conclude that neither bitcoin nor its value actually exist.

The ether, it seems, is big business.