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Hedge funds buoy bitcoin price despite banks' scepticism

The price of a single bitcoin climbed from below US$6,000 two weeks ago to above US$7,400 on Monday - more than it moved in its first seven years in existence.

San Francisco

THE chief executive of JPMorgan Chase, Jamie Dimon, has called bitcoin a fraud and made it clear that he will not allow his bank to begin trading the virtual currency any time soon.

But that has not stopped a growing wave of big Wall Street investors - many of them...