KATE THOMPSON DAVY: Give up the ol’ razzle-dazzle: crypto’s path to redemption contradicts its origins
The libertarian fervour at its roots has enabled a few to profit hugely and many more to sink money they can’t afford to lose into lead balloons
Cryptocurrency sentiment is perhaps the only thing more volatile that crypto itself. Now the category is enjoying a major rally on the back of the potential approval for the first spot bitcoin exchange traded funds (ETFs) by the US Securities & Exchange Commission (SEC). The SEC’s window for the issuance or denial of approval orders closes this week, and the experts are upbeat.
CNBC reports: “Last week the price of bitcoin notched an 18-month high, climbing to $37,970, after [investment giant] BlackRock took first steps towards an ether ETF. The price of bitcoin has more than doubled since the start of 2023, but it’s still well below its November 2021 peak.”..
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