Bitcoin's 'fire of truth' gets soaked by a bucket of water
It's looking like an excellent way to burn cash (and the planet). Cryptocurrency has been hailed as the next best thing, especially when liquidity is plentiful and interest rates are at rock bottom. However, now that inflation is surging, one thing is clear - it will never be an adequate substitute for hard cash. Lionel Laurent discusses why, in a world of pricier necessities where even a Netflix subscription is becoming a luxury, the promise of Bitcoin has started to unravel.