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Bitcoin’s Rally Crushed Every Other Currency in 2016. Here’s Why

  • The digital coin’s 79% gain four times that of real, ruble
  • Capital controls, slowing supply growth are boosting demand
QuickTake: Impact of Bitcoin and Blockchain

QuickTake: Impact of Bitcoin and Blockchain

Bitcoin, that nebulous digital currency that trades in cyberspace and is “mined” by code-cracking computers, emerged as a better bet this year than every major foreign-exchange trade, stock index and commodity contract.

The electronic coin that trades and is regulated like oil and gold surged 79 percent since the start of 2016 to $778, its highest level since early 2014, data compiled by Bloomberg show. That’s four times the gains posted by Russia’s ruble and Brazil’s real, the world’s top two hard currencies.