cryptocurrency: Last Wednesday, the cryptocurrency shot up to 13,879, breaking through the 12,000 and 13,000 levels in less than two hours, according to The Guardian. Bitcoin had languished below 6,000 for months, but was galvanised by Facebook's plans to create a cryptocurrency called Libra next year. Continuing its wild ride, the digital currency dropped to 9,717 on Tuesday, down 8.1% on the day. Q&A What is bitcoin Show Hide Bitcoin is the first, and the biggest, 'cryptocurrency' a decentralised tradeable digital asset. That means it has attracted a range of backers, from libertarian monetarists who enjoy the idea of a currency with no inflation and no central bank, to drug dealers who like the fact that it is hard but not impossible to trace a bitcoin transaction back to a physical person. The lack of any central authority makes bitcoin remarkably resilient to censorship, corruption or regulation.
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