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Bitcoin’s back - and it’s different this time

Bitcoin’s back - and it’s different this time

The cryptocurrency craze is taking off again, with bitcoin cast in the unlikely role as a hedge against volatility, and Australian companies are taking advantage of its move into the mainstream.

xxxx AP

Jessica SierNorth Asia correspondent
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Few Australians were happier with Tesla’s $US1.5 billion ($1.9 billion) bitcoin purchase this week than James Manning and former AGL boss, Greg Martin.

The two men – respectively the founder and the chairman of Cosmos Capital, a Sydney-based bitcoin mining outfit – are currently doing the rounds of Australian energy suppliers, negotiating where to set up their latest, and third, bitcoin mining operation.

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Jessica Sier
Jessica SierNorth Asia correspondentJessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com

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Original URL: https://www.afr.com/markets/currencies/bitcoin-s-back-why-this-time-is-different-20210211-p571ok