Cryptocurrency rout wipes $500bn off bitcoin peak value
Ethereum, the second-biggest coin, sinks more than 40%, while joke token dogecoin loses 45%
19 May 2021 - 16:32
The crypto bubble that inflated bitcoin’s value past $1-trillion and added billions to nonsense digital tokens overnight is bursting.
Bitcoin plunged almost 22% to $35,000, wiping out more than $500bn in value from the coin’s peak market value. It has erased all the gains it clocked up after Tesla’s February 8 announcement that it would use corporate cash to buy the asset and accept it as a form of payment for its vehicles. Ethereum, the second-biggest coin, sank more than 40%, while joke token dogecoin lost 45%...
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