Sam Leith Sam Leith

The Bitcoin delusion


Cast your mind back a few years to last week – when there was much laughing and wailing at the collapse of Squid coin, a meme cryptocurrency launched to capitalise on the popular Netflix show. It had gone to market, had rocketed 23 million per cent in value to $28,000-odd a unit… and then plummeted to zero on Monday morning after the creators cashed out for real-world money.

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