The fuel that’s driving cryptocurrency surge – With insights from The Wall Street Journal

The fuel that’s driving cryptocurrency surge – With insights from The Wall Street Journal

"Digital currencies have exploded in value during the Covid-19 pandemic, but hurdles to widespread adoption remain", says The Wall Street Journal.
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Bitcoin (below) has given up a third of its value in the past month, handing an army of one-eyed punters an expensive trading lesson. But what's behind the volatility? Today's piece from our partners at The Wall Street Journal separates fact from fiction – and providing a signpost for what may be happen next. It includes useful graphics of the relative size of the crypto market – and how the electricity used to "mine" Bitcoin recently surpassed what's used annually in Sweden, the world's 23rd biggest economy. That stat panicked Elon Musk into reversing his support for the premier crypto, helping spark its recent 30% selloff. – Alec Hogg

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