Breakingviews
7 Min Read
LONDON (Reuters Breakingviews) - Three years ago, this column suggested that bitcoin, whose price soared 15-fold during 2017, faced a total wipeout. The cryptocurrency wasn’t money, but instead resembled the gold prospector’s fabled sardine tin: “good for trading but not for eating.” It was a timely call: over the following months, bitcoin shed more than two-thirds of its value. But now the crypto is back from the dead and trading at around twice its peak. Was my earlier bitcoin judgement wrong?
A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021.