Virtual Currency Bitcoin Drops In Value
LINDA WERTHEIMER, HOST:
NPR's biz news starts with a wild Bitcoin roller coaster.
(SOUNDBITE OF MUSIC)
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.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.