Bitcoin made a splash when it was first introduced in 2009. Since then, investors have sunk billions of dollars into cryptocurrencies. Although they were touted as being a hedge against inflation, they’ve been acting as risk assets in the recent downturn – and their value has dived with the sharemarket. Crypto’s price has fallen 70 percent since November.
Paul Vigna, who writes on cryptocurrency for the Wall Street Journal, takes us through why the price has seen such a massive fall. He also explains what the future of crypto looks like – and how it could potentially drive innovation.
The crypto crash on today’s Briefing and why it’s yet to become a global currency.
Today's Headlines:
- NSW residents hit by 4th flood in 18 months
- PM visits Ukraine
- Wimbledon: Kyrgios through to final 16
- Australia hits 10k covid deaths
- Ash Barty named person of the year at NAIDOC
Follow The Briefing:
Instagram: @thebriefingpodcast
Facebook: TheBriefingNewsAU
Twitter: @TheBriefingAU
See omnystudio.com/listener for privacy information.
