Volatility stands in the way of bitcoin becoming a stateless digital currency
23 May 2021 - 18:36
Bitcoin’s wild ride last week is far from unusual for the largest crypto token, but the rollercoaster is also its inherent contradiction.
Speculators betting for years on bitcoin becoming a stateless digital currency that’s widely used for online retail and payments are largely responsible for its parabolic price rises. But they also seed the sort of blinding volatility that makes that ambition almost untenable...
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