Is Bitcoin failing the crisis test?

Cryptocurrencies' strength amid Covid-19

clock • 2 min read

There are two main functions that Bitcoin is supposed to serve.

The first is as money that cannot be faked or controlled. Not terribly important to most people in Europe or North America but valuable to about half of the world's population that live under some form of totalitarian regime. The second is its status as an investment asset, primarily as a store of value or 'digital gold' as some of its fans have described it. The frequent rises and falls in its sterling price grab the headlines and whets appetites of amateur investors, but its instability and lack of clear correlation to other assets has raised some questions. When stocks began to sel...

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