THE CRYPTOVERSE-Teenage bitcoin throws an interest rate tantrum

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Reuters UK

By Lisa Pauline Mattackal and Medha Singh (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. The cryptocurrency, born in 2009, was still on the fringes of finance during the Fed’s previous tightening cycle, from 20…

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