A steep sell-off that gained momentum this week starkly illustrated the risks of the experimental and unregulated digital currencies.
The price of Bitcoin plunged to its lowest point since 2020. Coinbase, the large cryptocurrency exchange, tanked in value. A cryptocurrency that promoted itself as a stable means of exchange collapsed. And more than $300 billion was wiped out by a crash in cryptocurrency prices since Monday.
(The New York Times, May 12, 2022)
But don’t worry Cryptos, even the gravitational pull of black holes is no match for the marketing boon of Elon tweets. So just hold on for his tweet about the inevitable rise of crypto to replace bread itself as the staff of life…
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