Bitcoin tumbled Tuesday from its record-breaking run after US Treasury Secretary Janet Yellen warned that the “highly speculative” unit could be used for “illicit” purposes.
At about 1500 GMT, the digital currency slid 12.57 percent to $47,946, while rival ethereum declined 15 percent to $1,539.
Tesla boss Elon Musk — whose company has invested heavily in bitcoin — tweeted Saturday that the prices of both cryptocurrencies “seem high”.
Yellen hit out Monday over bitcoin, claiming it was inefficient and required a vast amount of energy — and she expressed fear it was used for “illicit” reasons.
“I don’t think that bitcoin…...readmore