Why a Bitcoin Bubble Burst Could Blow up Bigger Bubbles
Bitcoin’s meteoric rise is epic, but what’s driving a lot of the rise is what drives many of the riskiest bubbles – debt. Rising prices do not in themselves pose a systemic risk, but what made the housing bubble pre-2008 a systemic risk was its reliance on debt extended by financial institutions. Unlike stocks or bonds, one can purchase Bitcoin […]
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