/ 23 February 2021

Bitcoin bust trillion-dollar mark

The cryptocurrency has broken another record after further increases took its total market value past US$1 trillion yesterday. Bitcoin has increased in value by 90% since January and by more than 500% over the last 12 months. Fuelled by the backing of Tesla founder Elon Musk and other big companies accepting it as payment, it’s becoming more mainstream. That’s not to say it doesn’t have its critics… Some analysts say it’s less currency/more a speculative trading tool that is open to market manipulation. Others say there’s no harm if you don’t get in too deep. “I tell curious friends to set aside their beer money but not their rent money,” said one bitcoin rider.

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