Cryptocurrencies plunged on Monday, with bitcoin dropping more than 12% to a one-week low as rising US yields lifted the dollar broadly and hurt non-income paying assets
The rout began just hours after Bitcoin rose to within $7 of its record high of $19,511, the culmination of a more than 250% surge in past nine months
Monday's "halving" cuts the rewards given to those who "mine" bitcoin to 6.25 new coins from 12.5. The next halving will be in 2024.
Politicians and financial regulators across the world have called for scrutiny of Facebook's Libra coin, with concerns ranging from consumer protection and privacy to its potential systemic risks
Bitcoin tumbled as much as 9.8 per cent and was trading at $6,358 as of 11:54 a.m. in London