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Bitcoin soars to new high, eyes $53,000 as Elon Musk backs crypto over cash

Bitcoin soars to new high, eyes $53,000 as Elon Musk backs crypto over cash

“When fiat currency has negative real interest, only a fool wouldn’t look elsewhere,” Musk said in a reference to the sub-zero returns on cash caused by negative-yielding debt. The comments pushed Bitcoin to a record on Friday, with prices climbing above $52,000.


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19 February 2021, 12:55