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How Bitcoin Is Edging Toward the Financial Mainstream: QuickTake

July 2, 2021, 7:20 AM

Bitcoin and other cryptocurrencies have become a global obsession, inspiring their own counterculture and attracting millions of converts. Once seen as the province of nerds, libertarians and drug dealers, Bitcoin and its less famous cousins have been embraced by rock-star investors and propelled by a belief that digital money is shaking up the financial world. Yet even after Bitcoin’s price exploded during the pandemic, it’s still on a roller-coaster ride, and there are few signs that cryptocurrencies will evolve into a useful way to pay for most transactions.

1. How did crypto become a craze?

By going ...