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He noted that historically currencies were backed by precious metals, and these days most currencies were based on macroeconomic fundamentals such as inflation, interest rates and growth, and were backed by a central bank and government. Bitcoin trading has created millionaires, though given that persistent rise since its debut, plenty of traders would have done fine just holding � or HODLing � on for the ride, as many long-term bullish owners have done. Bankrate principal writer and editor James F. Prior to this, Mercedes served as a senior editor at NextAdvisor.
