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Many people are on a quest to become “Bitcoin billionaires.”

The cryptocurrency craze has roared through the markets over the last 12 months, and it could end up costing credit unions a lot of money.

The concern stems from a huge run-up in Bitcoin’s value late last year, when the price of the digital currency shot up from about $2,500 in July 2017 to more than $19,000 by December. Many investors have scrambled to get in on the game, and to fund their purchases many are turning to credit cards – some of which are issued by credit unions.

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Tina Orem

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