More accessible: A cryptocurrency ATM in a convenience store in Miami, Florida. There are now 19.61 million bitcoins in circulation. — AFP
THE last time this column spoke about cryptocurrencies and more specifically, bitcoin, was more than three years ago in a column, entitled “Can Cryptos Be an Asset Class”, published on Dec 12, 2020.
The argument put forth then was that bitcoin doesn’t make sense as it has no intrinsic value. It is not a currency, and it is highly volatile. It is also not backed by any asset nor legal tender and it is highly speculative.
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