‘This time it’s different’: Bitcoin eyes new all-time high as big money piles in

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A flood of institutional investors and older Australians reallocating their self-managed super funds have helped propel cryptocurrency Bitcoin to rise almost 50 per cent in the past month.The popular digital currency, which is virtually 'mined' by powerful computers crunching complex equations, is now worth almost $25,000 in a rally that has excited investors.Its lofty valuation is near an all-time high for the cryptocurrency, which hit almost $27,000 at the end of 2017. At the time, the currency's rise was fuelled by a surge in interest and activity in the cryptocurrency space, largely driven by younger, often male, investors.This time it's different, according to Caroline Bowler, a former investment banker and the chief executive of Australia's largest cryptocurrency exchange BTCMarkets. Ms Bowler said a number of new investors signing onto her exchange recently are outside of crypto's typical demographic."Traditionally, our users have been 25 to 45-year-old men, but that changed this…

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