Bitcoin falls to 16 month low

HONG KONG, May 12 (Reuters) – Bitcoin BTC=BTSP fell to its lowest in 16 months on Thursday, continuing to fall alongside risk assets such as tech stocks, and also dragged down by the collapse of TerraUSD, the so-called stablecoin which lost its dollar peg this week. [nL2N2X30RZ]

The world’s largest cryptocurrency dropped around 2% to as low as $28,379.26, its lowest since January 2021.

(Reporting by Alun John; Editing by Christopher Cushing)

((alun.john@thomsonreuters.com;))