Virtual Currency Bitcoin Drops In Value

The tumble is due in part to China's central bank which had issued a warning about the currency.

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LINDA WERTHEIMER, HOST:

NPR's biz news starts with a wild Bitcoin roller coaster.

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WERTHEIMER: Bitcoin has been in the news lately for its soaring value, peaking at over $1,000. Today, the virtual currency's value has tumbled. And that's in part due to China's central bank. The world's largest Bitcoin exchange, BTC, is in Shanghai, but China's Central Bank has issued a warning about the new currency. And today, BTC announced it has halted the purchase of Bitcoin with China's currency. That caused Bitcoin to plummet 20 percent by the time of closing today on the BTC exchange.

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