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Bitcoin Falls to Three-Week Low as IRS Seeks Approval for Reporting Rules


Bitcoin Falls to Three-Week Low as IRS Seeks Approval for Reporting Rules on Cryptocurrency Transfers
Bitcoin has slumped by half since hitting a record of almost $65,000 (roughly Rs. 47.39 lakhs) in April.
By Reuters | Updated: 9 June 2021 12:05 IST
Bitcoin bottomed at $31,025 (roughly Rs. 22.6 crores), the lowest price since a shakeout on May 19
Highlights
Ruffer s Bitcoin profit was first reported by The Sunday Times
Bitcoin was last trading at $32,055.20 (roughly Rs. 23 lakhs)
Bitcoin fell to a three-week low on Tuesday amid signs of institutional investor caution, while the head of the US Internal Revenue Service called for lawmakers to provide authority for tighter reporting rules on crypto transfers. ....

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A timeline of Bitcoin's march to the mainstream


A timeline of Bitcoin’s march to the mainstream
By Reuters
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London - Bitcoin hit a record high just shy of $65,000 last week, the latest landmark on the emerging asset s march to wider acceptance. Its gains have been fuelled by growing acceptance among major U.S. companies and financial firms.
Here are some steps from big companies, large investors, banks and payment processors that have pushed bitcoin closer to the mainstream in recent months:
INVESTMENT
Dec. 2020:
British fund manager Ruffer Investment Management says it made a bet on bitcoin worth in December around 550 million pounds ($765 million).
Jan. 2021:
Investment bank JPMorgan Chase & Co says bitcoin could hit $146,000 if it becomes an established safe-haven. ....

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