The notoriously volatile cryptocurrency had regained much of its value in the past eight days, with each coin worth more than $12,900 until today. Bitcoin hadn’t experienced a surge of this sort since January 2018, and its recovery is believed to be related to Facebook’s plans to launch its own virtual currency: With the world’s largest social network endorsing the crypto economy, once-hesitant buyers may be jumping into the market.
Is the recovery sustainable? That’s unclear: True to its volatile nature, bitcoin slid 12 percent today to end its surge.
Check out OZY’s profile of the self-described “CryptOprah.”