What You Need to Know About CRYPTO

Even if you’re not ready to invest in cryptocurrencies, it’s important to understand the role they play in modern finance.

LISA GERSTNER

Whether or not you dabble in cryptocurrency, it’s hard to avoid hearing about it these days. Bitcoin has taken investors on a roller-coaster ride, with the price of one bitcoin surpassing $60,000 a few times in 2021 and dipping as low as about $30,000 between peaks, including a rout in mid May. The major Los Angeles sports and entertainment venue formerly known as the Staples Center now bears the name Crypto.com Arena, and well-known figures from Tom Brady to Kim Kardashian have touted cryptocurrencies and their platforms. After social-media site Twitter accepted Elon Musk’s buyout offer in April, dogecoin, a cryptocurrency Musk has openly supported, jumped in value. With all the noise surrounding crypto—not to mention the accompanying jumble of esoteric terminology—it’s easy to write it off as a fad…

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Kiplinger's Personal Finance (Digital) - 1 Issue, July 2022

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