THE FIRST surge in the price of bitcoin, to around $1,000 in 2013, minted cryptocurrency millionaires, provoked declarations of a bubble and left some early fans kicking themselves. One unlucky man in Wales searched a rubbish dump for a hard drive containing 7,500 accidentally discarded bitcoins, whose value had grown from almost nothing to $7.5m. Since then bitcoin has been on a wild ride. Fuelled by casual speculators and market manipulation, its price surged to about $19,000…
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