CHART OF THE DAY: Bitcoin Collapses Following Silk Road Shutdown
Oct 3, 2013, 01:16 IST
Today the FBI seized and shut down Silk Road, a website that allowed customers to buy illegal drugs using Bitcoin. As part of the bust, the government took 26,000 Bitcoins, or the equivalent of about $3.2 million, from Silk Road.
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Following the news, Bitcoin's value began to collapse. Early this morning, one Bitcoin was worth about $123. As of this writing, it's hovering around $100.
Here's a chart that shows Bitcoin's collapse today. You can see where exactly where the Silk Road news hits.
