In a surprising turn of events, Bitcoin briefly appeared to plummet to a price of just $0.019 on the trading platform Revolut, marking a staggering 99.99% drop from its actual trading value, which hovered around $79,000 at the time. The glitch, which occurred overnight and lasted only a few minutes, sent shockwaves through the user base, with some receiving push notifications alerting them to what seemed like an extraordinary decline in the cryptocurrency’s market value.
These erroneous notifications claimed Bitcoin had hit a 52-week low at this unprecedented price, generating confusion and concern among Revolut users. Reports indicate the pricing error existed for approximately five minutes, from 7:45 to 7:50 GMT+1, before being rectified. A spokesperson for Revolut later confirmed that the malfunction was attributed to a service disruption from a third-party provider, although no specific details about the provider have been disclosed.
Revolut reassured its customers that the issue has since been fixed and that Bitcoin’s price is now accurately reflecting market conditions. The firm is currently investigating the full extent of the disruption that caused the error. Notably, while Revolut displayed Bitcoin at a near-zero price, major cryptocurrency exchanges continued to trade the digital asset without any significant interruptions, confirming that the glitch was isolated to Revolut’s platform. Data from CoinGecko, CoinMarketCap, and Coinbase corroborated that Bitcoin’s actual market price remained stable and unaffected during the incident.
In the aftermath of the glitch, users took to social media platforms to express their reactions. While some voiced their worries, others chose to inject humor into the situation, imagining the potential windfall of buying Bitcoin at such an absurdly low price. One user on X (formerly Twitter) jested, “BTC ‘crashed’ to $0.02 on Revolut. For 3 seconds, I thought I was about to buy the entire supply and become Satoshi’s final boss.”
Interestingly, although Bitcoin experienced a significant pricing error, Revolut’s 24-hour charts for other major cryptocurrencies, including Ethereum and XRP, also indicated substantial drops during the same timeframe, albeit not as extreme as Bitcoin’s false plunge.
Revolut has been expanding its offerings in the cryptocurrency space alongside its traditional banking services, serving millions of users across Europe. The firm has ambitions for growth, having applied for a U.S. banking license in March and reportedly eyeing a $200 billion valuation for a future IPO, although that process is not expected to be initiated until at least 2028.
