Forget Jack Dorsey And Square—Is This The Real Reason Bitcoin Has Suddenly Soared?

The bitcoin and cryptocurrency community was yesterday set alight by news payments company Square

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, led by Twitter

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chief executive and outspoken bitcoin advocate Jack Dorsey, had bought $50 million worth of bitcoin.

The bitcoin price, which had been hovering at just over $10,000 per bitcoin since early September, has jumped more than 5% following the news, climbing over $11,000 and potentially resuming the bull run that drove it from lows of under $4,000 in March…