THE CRYPTOVERSE-Teenage bitcoin throws an interest rate tantrum


FILE PHOTO Illumination of the stock graph is seen on the representations of virtual currency Bitcoin in this picture illustration taken March 13 2020. REUTERSDado Ruvic

FILE PHOTO: Illumination of the stock graph is seen on the representations of virtual currency Bitcoin in this picture illustration taken March 13, 2020. REUTERS/Dado Ruvic

(Reuters) - Bitcoin is growing up. The original cryptocurrency turns 13 this year and is showing signs of becoming a more mature financial asset - but watch out for the teenage tantrums.

This drift towards the mainstream, driven by the big bets of institutional investors, has seen bitcoin become sensitive to interest rates and fuelled a sell-off in the coin this month as investors braced for a hawkish Federal Reserve policy meeting.

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