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Bitcoin: why its value has rocketed once again

By Andrew Urquhart, Professor of Finance & Financial Technology, ICMA Centre, Henley Business School, University of Reading

Bitcoin’s journey into mainstream finance has reached another major milestone – and another record price. The cryptocurrency was trading at US$66,975 (£48,456) following the launch of an exchange traded fund (ETF) in the US which has dramatically increased bitcoin’s exposure to investors.

The fund, which opened on October 19, allows investors to speculate on the future…

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