TOKYO/HONG KONG: Bitcoin rebounded to about $50,000 in Asian trading on Thursday after plunging as much as 17% after Elon Musk tweeted Tesla Inc had stopped accepting bitcoin to purchase its vehicles due to climate concerns.
The price of the world's largest cryptocurrency dropped from around $54,819 to $45,700, its lowest since March 1, in just under two hours following the tweet shortly after 2200 GMT. It recovered about half of that drop early in the Asian session, and last traded about $50,196.
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