After a brief surge in bitcoin’s value at the start of the week following a major upgrade to its network, the cryptocurrency has plunged to below $60,000 on Thursday.Bitcoin’s price has hel d firm above $58,000, bolstered by the rollout of the long-awaited Taproot update over the weekend, which improves both the privacy and security of BTC. The price falls wiped more than a hundred billion dollars from the overall crypto market, though it remains above $2.5 trillion. Is bitcoin a scheme for the rich to control the poor?

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