Wall Street, Main Street firms embraced bitcoin. Now it's crashing.
Wall Street, Main Street firms embraced bitcoin. Now it's crashing. Stephen Gandel © Bloomberg Bitcoin Mining Comes to the Arctic Circle This month's trillion-dollar plunge in cryptocurrencies now has a name: the Great Unwind. That's how Mark Cuban labeled the slide that saw the value of bitcoin sink more than 50% in a matter of weeks. The billionaire entrepreneur largely attributes the rout to investors borrowing heavily — a way of boosting returns by using "leverage" — to buy up bitcoin competitor ethereum and other digital currencies. Now, the price drop has force...
Source: msn.com