Financial Times: Bitcoin’s collapse is not the end of digital currencies

In November, the price of Bitcoin fell below $5,000 for the first time since October 2017. Critics of cryptocurrencies see this as a victory for fiat currencies, but cryptocurrencies have pushed banks and governments to conclude that money must become more digital. There has always been a contradiction about whether Bitcoin is a medium of exchange or a speculative asset. It may no longer be the currency of the future, but the debate about the potential of digital currencies sparked by Bitcoin is valuable. (Financial Times)