Bitcoin falls 5.84% to $43,418

Reuters

Published Feb 28, 2021 11:31AM ET

(Reuters) - Bitcoin dropped 5.84% to $43,418.02 on Sunday, losing $2,691.96 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, has fallen 25.6% from the year's high of $58,354.14 on Feb. 21.

Bitcoin's price soared this year as major firms including BNY Mellon (NYSE:BK), asset manager BlackRock Inc (NYSE:BLK), and credit card giant Mastercard Inc (NYSE:MA) backed cryptocurrencies, while others such as Tesla (NASDAQ:TSLA) Inc Square Inc (NYSE:SQ) and MicroStrategy Inc invested in bitcoin.