Bitcoin Value Drops After FBI Shutdown

bitcoin_2013The FBI seized bitcoins worth approximately $3.6m (£2.2m) on Tuesday.

The price of a bitcoin, a virtual currency for use online, fell steeply after the arrest of suspected website administrator Ross Ulbricht.

Investor confidence may have been shaken by the association of bitcoins with illegal activity, according to a security expert.

“When there’s a big bust, that’s going to knock people’s confidence in investing,” said Rik Ferguson, a senior researcher at security company Trend Micro.

“The more a currency is associated with illegal activity, the more people will be nervous about using it,” he said.

 

Source: BBC

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News Talk Florida Staff