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Bitcoin price briefly tops $69,000 for new high
The cryptocurrency has leapt in value after US finance giants poured billions into buying bitcoins.
Conceived as a means to create money for the internet, its roots lay in an anti-establishment ethos encouraging people to live free from the existing power structure of financial institutions and governments. Prof Alexander told the BBC these entrants "are attracting institutional investors into Bitcoin and they are putting a considerable upwards pressure on price." Bitcoin's value tumbled to 18-month lows of nearly $20,000 in June 2022 as investors sought to cut ties with riskier investments amid a gloomy global economic outlook.
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