Bitcoin Mania Takes Off as Cryptocurrency Surges Past $5,000
- Proponents shake off regulation push, warnings of asset bubble
- Shares of hardware companies linked to digital mining soar
Moulton: Bitcoin Will Have to Evolve to Survive
This article is for subscribers only.
Bitcoin bubble or just the beginning? Or both? Those are the questions being asked on Wall Street to Main Street after the digital currency breached $5,000 for the first time, pushing this year’s gains to more than fivefold.
As recently as December, bitcoin was trading at less than $1,000. Since then, it has dodged everything from tightening regulations, feuding factions splitting its underlying blockchain and warnings from the likes of JPMorgan Chase & Co. Chief Executive Jamie Dimon of fraud and an eventual price collapse.