Bitcoin extends retreat from record high to hit lowest in 20 days
Reuters
Published Feb 28, 2021 09:04AM ET
Updated Feb 28, 2021 01:25PM ET
(Reuters) - Bitcoin dropped 6.39% to $43,165.78 on Sunday, losing $2,944.20 from its previous close.
Bitcoin, the world's biggest and best-known cryptocurrency, has fallen 26% from the year's high of $58,354.14 on Feb. 21 when it soared amid increasing confidence that it will become a mainstream investment and payments vehicle.
Major firms such as BNY Mellon (NYSE:BK), asset manager BlackRock Inc (NYSE:BLK) and credit card giant Mastercard Inc (NYSE:MA) have backed cryptocurrencies. Tesla (NASDAQ:TSLA) Inc, Square Inc (NYSE:SQ) and MicroStrategy Inc have invested in bitcoin.
Ether, the coin linked to the ethereum blockchain network, dropped 8.88% to $1,329.46 on Sunday, losing $129.57 from its previous close.
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Written By: Reuters
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