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Bitcoin sinks below US$30,000 for 1st time since January amid China crackdown

Click to play video: 'El Salvador 1st country to make Bitcoin legal tender' El Salvador 1st country to make Bitcoin legal tender
El Salvador has become the first country in the world to adopt Bitcoin as legal tender after Congress approved President Nayib Bukele's proposal to embrace the cryptocurrency. With 62 out of 84 possible votes, lawmakers voted in favor of the move on Tuesday to create a law to adopt Bitcoin, despite concern about the potential impact on El Salvador's program with the International Monetary Fund. – Jun 9, 2021

Bitcoin fell below US$30,000 for the first time in nearly five months as China’s latest crackdown on cryptocurrencies weighed.

The world’s largest cryptocurrency fell as much as 6.4 per cent to US$29,614, its lowest since Jan. 27. As of 1232 GMT it was down 4.2 per cent.

(Reporting by Thyagaraju Adinarayan; editing by Tom Wilson)

 

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