Bitcoin and cryptocurrency prices have lurched back and forth over the last month with bitcoin now down around 50% from its April peak.
The bitcoin price rout was sparked by China’s latest crackdown on bitcoin and crypto miners—who use high-powered computers to secure cryptocurrency blockchains and validate transactions in return for freshly created tokens.
Now, Michael Saylor, the chief executive of business intelligence software company-turned bitcoin accumulator Microstrategy, has warned China’s expulsion of bitcoin and crypto miners could be a “trillion-dollar” mistake.
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