Bitcoin, sometimes called digital gold, has rocketed higher over the last year as a combination of Wall Street adoption, regulatory tailwinds and macro economic forces converge—sparking “dangerous” bubble warnings.
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The bitcoin price has topped $100,000 per bitcoin since Donald Trump’s November election victory, with Coinbase’s chief executive predicting exactly when he thinks bitcoin will eclipse gold’s $18 trillion market capitalization.
Now, as Elon Musk brands the U.S. debt clock “terrifying,” bitcoin-backing U.S. senator Cynthia Lummis has pitched Musk a bitcoin “fix” to questions over the U.S. gold reserves.
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