• At about 1500 GMT, the digital currency slid 12.57% to $47,946, while rival ethereum declined 15% to $1,539. Picture: parilovv/123rf.com

    Record-breaking Bitcoin tumbles on Yellen warning

    US Treasury Secretary Janet Yellen hit out Monday over bitcoin, claiming it was inefficient and required a vast amount of energy -- and she expressed fear it was used for 'illicit' reasons.

  • One bitcoin is currently worth five times more than a year earlier, while the combined value of all units in global circulation is almost $1.0 trillion. Picture: Pixabay

    Bitcoin goldrush sparks fears of speculative bubble

    The unit blasted past $50,000 on Tuesday following a week in which Tesla invested $1.5 billion in bitcoin and vowed customers could use it to buy vehicles and both New York bank BNY Mellon and credit card titan MasterCard announced plans to support bitcoin.

  • FILE: Tesla Inc’s Model 3 sedan. Picture:  @Tesla/Twitter.

    Electric carmaker Tesla invests $1.5 bn in bitcoin

    The announcement from the automaker, in a US Securities and Exchange Commission (SEC) filing, is a sign of confidence in the cryptocurrency that regulators are concerned could be used for illegal transactions.

  • Bitcoin medals. Picture: AFP

    Bitcoin on record tear towards $20,000

    The currency soared past its previous high of $19,783 to hit 19,800 with some sector analysts forecasting it will soon breach the 20,000 resistance point.