Blaming Gold for 30s Is Like Kim Blaming His Height On the Foot

Blaming Gold for 30s Is Like Kim Blaming His Height On the Foot

In a 2014 column for the Los Angeles Times, Michael Hiltzik properly heaped scorn on Bitcoin. In his words, "Over the last month, they've [Bitcoin] been quoted as high as $1,200 and as low as $455."

Hiltzik's explicit complaint was that there was little constancy to the coin's value. Fast forward to 2019, and there still isn't. As Tuesday's column indicated, a Bitcoin was exchangeable for $900 when 2017 began, for over $20,000 during a brief stretch in early 2018, and now the cryptocurrency fetches roughly $5,000.

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