Market value for the cryptocurrency fell by more than Ford’s entire market capitalization
Bitcoin’s dizzying 1,400 percent ascent last year, which created $200 billion in new wealth for investors, has made its 30 percent fall in January all the more painful. The $44.2 billion in market value lost last month is by far a record for the digital currency, whose entire market cap hadn’t come close to that amount until 2017, according to price data from Coinmarketcap.com. After reaching a peak of almost $20,000 in December, a series of negative headlines including a $500 million heist from a Japanese cryptocurrency exchange, buffeted Bitcoin and its peers and it closed the month below $10,000.
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