Bitcoin's Inflation-Hedging Promise in Tatters After Plunge (opens in new tab)

(Bloomberg) -- Bitcoin has fallen 36% over the past year and slipped below $70,000 this week, extending a retreat that is undermining several of the arguments that helped carry the cryptocurrency into the financial mainstream.Most Read from BloombergRussia Finance Officials Tell Putin War Spending Is UnaffordableTrump to Get Audit Immunity as $1.8 Billion Fund in DoubtCanada Dips Into Technical Recession for First Time Since 2020SpaceX Staffers Prep for Multimillion-Dollar Windfalls by Pushing f