Dado Ruvic | ReutersThe price of bitcoin took another hit on Friday morning as other cryptocurrencies including ether and doge also saw their values fall. The latest price falls comes a day after longtime bitcoin bull Cathie Wood, founder and CEO of Ark Investment Management, argued that bitcoin has a place in the world of deflation. Emerging markets — where currencies are often linked closely to commodity price cyclicality — could ultimately spur outperformance in bitcoin, she said. Last week’s crypto sell-off came after authorities in China and the U.S. moved to tighten regulation and tax compliance on cryptocurrencies. Elsewhere, hedge fund billionaire Ray Dalio revealed in an article published on Monday that he owns some bitcoin.

Source: The North Africa Journal May 28, 2021 12:00 UTC