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Bitcoin has tumbled almost eight per cent after the discovery of a new, potentially vaccine-resistant coronavirus variant saw investors dump riskier assets for the perceived safety of bonds, the yen and the dollar.
Bitcoin, the largest digital currency, fell as much as 7.8pc to $54,377, its lowest since October 12.
It was on track for its biggest one-day drop since September 20, and has slumped by more than a fifth since hitting a record high of almost $70,000 earlier this month.
Scientists said the variant, detected in South Africa, Botswana and Hong Kong, has an unusual combination of mutations and may be able to evade immune responses or make it more transmissible.
