Crypto rout wipes billions off market
A slide in cryptocurrencies wiped more than $1 billion from the world’s largest bitcoin investor and more than 10 per cent from a major ASX-listed fund’s holdings as the month-long rout reverberated across the market.
The price of the world’s most popular digital currency, bitcoin, continued to fall on Tuesday, hovering around $US78,750, near lows last reached when the White House announced sweeping tariffs last April, setting global markets on edge. It is down more than 10 per cent since December 31, and more than 35 per cent since its October peak. January marked its fourth straight month of losses, its longest losing streak since 2018.
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