Bitcoin fell to a more than two-month low on Thursday in the wake of Tesla Inc (TSLA.O) chief Elon Musk reversing his stance on accepting the digital currency, selling off for a second straight session on news of a U.S. probe into Binance, one of the world’s biggest crytocurrency exchanges.
Thursday’s sell-off followed a 17% drop in the price of the world’s largest cryptocurrency on Wednesday following Musk’s remarks that Tesla would stop accepting the digital token as payment for its electric cars. read more
Bloomberg reported on Thursday that as part of the Binance inquiry, the U.S. Justice Department and the Internal Revenue Service have sought information from individuals with insight into its business. read more
“Bitcoin’s critics will once again pounce on the many colorful personalities that seek to connect themselves with the space,” said Paolo Ardoino, chief technology officer at crypto exchange Bitfinex.
“However, it is important to remember that bitcoin is much bigger than the celebrities of today or indeed the makers and shakers in the space.”
Bitcoin dropped to $45,700, the lowest since March 1, and