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NEW YORK- Bitcoin hit record outflows last week, as investors diversified into cryptocurrency assets with new developments in their specific network such as ethereum, data from digital currency manager CoinShares showed on Monday.
Outflows for bitcoin products and funds totaled $98 million, or 0.2 percent of total assets under management. For the year, total bitcoin inflows amounted to $4.3 billion. In 2020, investors pumped $15.6 billion into bitcoin products and funds, while ethereum inflows reached nearly $2.5 billion, data showed.
Since hitting a record just under $65,000 in mid-April, bitcoin’s price has fallen 35 percent.
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Bitcoin was down 5.2 percent at $44,073, driven by tweets from Tesla Inc. chief Elon Musk.
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