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Updated on: Friday, November 26, 2021, 03:14 PM IST

Bitcoin tumbles almost 8% as new coronavirus variant sees riskier assets: Report

Bitcoin fell as much as 7.8 percent to $54,377, its lowest since October 12.  | Photo: Pexels

Bitcoin fell as much as 7.8 percent to $54,377, its lowest since October 12. | Photo: Pexels

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Bitcoin tumbled almost 8 percent on Friday after the discovery of a new, potentially vaccine-resistant coronavirus variant saw investors dump riskier assets for the perceived safety of bonds, the yen and the dollar, according to Reuters report.

Bitcoin fell as much as 7.8 percent to $54,377, its lowest since October 12. It was on track for its biggest one-day drop since September 20. Scientists said the variant, detected in South Africa, Botswana, and Hong Kong, has an unusual combination of mutations and may be able to evade immune responses or make it more transmissible, Reuters added.

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Published on: Friday, November 26, 2021, 03:14 PM IST
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