The value of the cryptocurrency Bitcoin plunged to $80,186 (~RM 354,822) this morning, down from around $87,000 last week. At the time of writing, the value of Bitcoin had risen back to $$82,625 (~RM 366,000) but this is still a decline of around 4% today.
Like last week, the value of Bitcoin was affected by the announcement of the United States' cryptocurrency and digital asset reserve, which will not involve the government purchasing crypto. Instead, it will simply collect cryptocurrency and digital assets seized from criminal activities. Previously, the seized digital assets would be auctioned after the case was resolved, which was seen as a loss due to the increase in crypto values since November last year.
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BUSINESS & MONEY