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El Salvador’s bold move to accept Bitcoin as legal tender has Wall Street once again wondering whether a cryptocurrency could really ever replace the old-school dollar.

It’s a question that had appeared, at least to some, to already be nearly answered, after a handful of trailblazing companies — including Tesla Inc., MicroStrategy Inc. and Square Inc. — incorporated bitcoins into their balance sheets without igniting a broader corporate revolution. Now, the focus is turning to governments.

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