Retailers retreat from bitcoin fever

Visa CEO Al Kelly, Neiman Marcus CEO Karen Katz, and CNBC's Jon Fortt speak onstage at the National Retail Federation's Big Show Conference.
Visa CEO Al Kelly (left) talks with CNBC's Jon Fortt about the future of commerce. Photo: Courtesy of the NRF

Bitcoin fell below half its peak price on Tuesday, extending a losing streak that has led business leaders to increasingly doubt its viability as a currency.

Why it matters: If business does not see bitcoin as a reliable means of exchange, there's no reason to believe it will end up in wide circulation.