Bitcoin value continues to decline

Bitcoin value continues to decline

The value of Bitcoin and other cryptocurrencies plummeted after it was learned that the United States formed a working group to try to develop a strict tracking of the use of this type of currency to pay ransom for data hijackings that occurred in recent months.

The Joe Biden administration’s plan is to develop tracking the source of the money paid to “hackers” who have dedicated themselves to preventing the proper functioning of corporations, government agencies and other groups, while trying to provide $10 million for information that leads to the identification of cybercriminals.

Thus, Bitcoin approached $31,000 at the end of last week and fell 3.5% to $31,550, a figure that contrasts sharply with the nearly $65,000 worth of this cryptocurrency last April.

Another cryptocurrency, MicroStrategy, was also down 3.5%, while Marathon Digital Holdings fell 0.65%, Blockchain 1.3%, and Coinbase 2.3%.

Bitcoin and Dogecoin last Wednesday reached their minimum values ​​for the past three weeks, while Ether reached their minimum values ​​for the past two weeks.

In addition to the measures that the United States plans to adopt, these currencies were also affected by the recent statements of Federal Reserve Chairman Jerome Powell, who confirmed in statements to the country’s Senate that both Bitcoin and other cryptocurrencies were not managed. For transfer in a payment method, except for those who want to remain anonymous.

In recent months, cryptocurrencies have been used to pay millions of dollars in ransoms in several cyberattacks in which company data has been hijacked, including meat company JBS and Colonial Pipeline.

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Bitcoin was also in the eye of investors after El Salvador became the first country to accept it as legal tender and regulate its use through law.

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