“There was plenty of ugliness to be found in the markets this year. Ukranian and Venezuelan sovereign debt. High-yield, energy-related corporate bonds. Argentine pesos. Russian rubles. Greek stocks.
But none of these investments has been as atrociously awful as bitcoin, the heavily hyped crypto-currency that stormed onto the financial scene in the last few years, threatening to disrupt the cornerstone of global finance that is fiat currency.
It hasn’t worked out. Year-to-date bitcoin is down roughly 52% at last glance.”
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