Bitcoin boom backstopped by central banks’ easy-money policies

This article is part of the FT’s Runaway Markets series.

A flood of central bank stimulus and widening interest among retail and institutional investors has sustained the rally in cryptocurrencies, analysts say, even as sceptics warn that the market is in the midst of a bubble.

Bitcoin kicked off February at just above $36,000, about $5,000 beneath the all-time peak it hit last month.

The digital currency briefly wobbled after reaching the high in early January, but has so…


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