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Bitcoin

Bitcoin hovers near six-month high on ETF hopes (Al Jazeera)

Bitcoin hovered near a six-month high early on Monday on hopes that US regulators would soon allow cryptocurrency exchange-traded funds (ETFs) to trade, while global inflation worries also provided some support.

Bitcoin last stood at $62,359, near Friday’s six-month high of $62,944 and not far from its all-time high of $64,895 hit in April.

Bitcoin hovers near six-month high on ETF hopes | Business and Economy News | Al Jazeera

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Bitcoin

The Bitcoin Fountainhead (Daron Acemoglu, Project-Syndicate)

While it is clear that cryptocurrencies are here to stay, it remains to be seen what economic role they will – or should – play. In the case of Bitcoin, the technology’s success lies entirely in what it promises, rather than in what it can actually deliver.

The Bitcoin Fountainhead by Daron Acemoglu – Project Syndicate (project-syndicate.org)

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Bitcoin El Salvador

El Salvador’s Bitcoin Folly (Jeffrey Frankel, Project-Syndicate)

Many aspects of cryptocurrencies are baffling, not least the success of a joke like Dogecoin. But El Salvador’s recent adoption of Bitcoin as legal tender alongside the US dollar is perhaps the strangest and potentially most worrying example of all.

El Salvador’s Bitcoin Folly by Jeffrey Frankel – Project Syndicate (project-syndicate.org)