The price of Bitcoin has dropped to its lowest level since last year’s tariffs shock as its reputation for being the digital equivalent of gold unravels.
Bitcoin hit $77.02 on Saturday, down more than 8 per cent, and is down nearly 13 per cent since the start of this year.
The move comes despite a breakneck rally in the price of bullion and other precious metals as investors seek safety in the face of rising geopolitical tensions and tariff threats. Gold hit record highs in recent days, surging 23 per cent to trade above $5,600 per troy ounce, although it pared its gains on Friday to around $4,800.
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