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The value of the virtual currency Bitcoin has hit an all-time high. The financial crisis in Cyprus has driven many people to seek out alternative homes for their money. Some investors in the Mediterrranean island nation stand to lose up to 80 percent of their savings, as part of strict conditions attached to a $13bn bailout. And there are fears other countries could suffer the same fate, this situation shaking consumer confidence in traditional banks, and adding to a surge in trading in these so-called Bitcoins.
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