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Bitcoin boom threatens to turn it into pure gold

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January 09, 2021 at 04:00PM

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Big investors are eyeing the once volatile cryptocurrency as a hedge against inflation

Bitcoin is back, along with the debate over its value. The price of the digital currency is soaring and last week it hit more than $40,000 for the first time, having doubled in less than a month.

Its price has jumped by more than 700% since the pandemic was first declared in March last year, rising from about $5,000.

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