The idea that crypto can be another form of fiat currency - currency legally tendered by government that is not backed by a physical commodity such as gold - needs to become more widely accepted before that can happen. — AFP Relaxnews
Anyone who has watched Bitcoin's erratic price gyrations since its inception could get dizzy.
When first introduced in 2009, a unit of the pioneering cryptocurrency was valued at... zero cents. Within about two years, the price rose to US$1 (RM4.2) and months later surged upward in value to about US$30 (RM125), according to data from SoFi, a student loan refinancing firm. But then it plunged to US$5 (RM20).
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