MARKET NEWS
Bitcoin Has Found a New Purpose. What Could Go Wrong? - BLOOMBERG
When Bitcoin broke into the public consciousness in 2013, the idea behind it quickly captured people’s imagination: a digital currency for instant, anonymous payments that dispenses with the need for a bank. Its price surged that year, from around $13 to $747.
Twelve years on, the world’s best-known cryptocurrency has topped $120,000. Tens of thousands of personal fortunes have been made (and some lost) along the way. But for all the talk of Bitcoin going mainstream, it’s never really threatened to displace regular currencies as a way to pay for groceries, buy a car, or even send money across borders — a business arguably ripe for disruption given the significant fees involved.
