News / Economy

Bitcoin Value Drops Sharply

FILE - Bitcoin tokens at 35-year-old software engineer Mike Caldwell's shop in Sandy, Utah, April 3, 2013. FILE - Bitcoin tokens at 35-year-old software engineer Mike Caldwell's shop in Sandy, Utah, April 3, 2013.
x
FILE - Bitcoin tokens at 35-year-old software engineer Mike Caldwell's shop in Sandy, Utah, April 3, 2013.
FILE - Bitcoin tokens at 35-year-old software engineer Mike Caldwell's shop in Sandy, Utah, April 3, 2013.
VOA News
The value of bitcoin virtual currency was down sharply Tuesday, after a major online exchange for the currency abruptly closed its website.

At the same time, rumors circulating through the Internet suggested that hackers had stolen as much as six percent of all bitcoins from the Mt. Gox exchange.

The Japan-based digital currency operator closed its website Tuesday and its offices did not respond to requests for comment. Later, Mt. Gox posted a brief notice saying it closed all transactions to "protect the site" and its users.

Earlier this month, Mt.Gox halted withdrawals of bitcoins, citing “unusual activity,” prompting angry protests from investors.

Internet reports say that hackers have been secretly stealing bitcoins for years and that Mt. Gox lost 744,000 bitcoins out of 12.4 million currently in circulation.

One of the websites that follow the price of bitcoin, Bitwat.ch, places its current value at less than $500, down from above $1,200 in November.

Bitcoin is one of several so-called cryptocurrencies circulating around the world allowing individuals and companies to make digitally coded payments without fees usually charged by financial companies.

Since its introduction in 2009, bitcoin has seen several sharp rises and drops in its value.

You May Like

Analysis: China Raises Hong Kong Rhetoric to Tiananmen Level

A front-page commentary in The People’s Daily called the current demonstrations 'chaos,' the same word Party officials used 25 years ago to describe the Tiananmen Square protests More

US Airstrikes Anger Syrian Civilians Fleeing Their Homes

Pentagon officials say they have seen no credible evidence of civilian deaths caused by US airstrikes against Islamic State militants More

Child Sexual Exploitation to Worsen in SE Asia

Southeast Asia’s planned economic integration is a key step for boosting the region’s productivity, but carries downsides as well More

This forum has been closed.
Comment Sorting
Comments
     
by: Rob from: Canada
February 26, 2014 9:42 PM
$350M worth of bitcoins stolen and untraceable by hackers, seems kind of like a waste of money.


by: Juk
February 26, 2014 3:29 AM
... The value of bitcoin virtual currency was down sharply from 620 BTC to 600 BTC ... Your title is no more interesting.


by: VincentCastillo from: California
February 25, 2014 10:48 PM
Bitcoin is destined to fail. If you're still confused about what Bitcoin is, check out the introductory book "Beyond the Bitcoin Hype" for an easy to read intro and explanation of why Bitcoin just can't cut it.


by: johnny mars from: 32226
February 25, 2014 4:34 PM
Regarding, the featured video, Obama is the first BI-RACIAL president, although he seems to favor his black heritage. BTW, Tiger Woods is a TRI-RACIAL golf pro.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
The Legacy of Jimmy Carter: The Preacher from Plainsi
X
October 01, 2014 10:45 AM
It is common in the United States to see tourists flock to sites associated with America's presidents. Some are privately owned and others are run by the National Park Service or the National Archives -- but most have helped draw business and people into the towns and cities where they are located. As VOA’s Kane Farabaugh reports, there is one particular presidential hometown that is unique in what it has to offer those who make the trip.
Video

Video The Legacy of Jimmy Carter: The Preacher from Plains

It is common in the United States to see tourists flock to sites associated with America's presidents. Some are privately owned and others are run by the National Park Service or the National Archives -- but most have helped draw business and people into the towns and cities where they are located. As VOA’s Kane Farabaugh reports, there is one particular presidential hometown that is unique in what it has to offer those who make the trip.
Video

Video Hong Kong Protests Draw New Supporters on National Holiday

On the 65th anniversary of the founding of Communist China, Hong Kong protesters are hoping to stage the largest pro-democracy demonstration since the 1989 Tiananmen protests. VOA's Brian Padden visited one of the protest sites mid-day, when the atmosphere was calm and where the supporters were enthusiastic about joining what they are calling the umbrella revolution.
Video

Video India's PM Continues First US Visit

India's prime minister is on his first visit to Washington, to strengthen political and economic ties between the world's oldest and the world biggest democracies. He came to the U.S. capital from New York, the first stop on his five-day visit to the country that denied him an entry visa in the past. From Washington, Zlatica Hoke reports Modi seemed most focused on attracting foreign investment and trade to increase job opportunities for his people.
Video

Video Malaysia Struggles to Stop People Joining Jihad

Malaysian authorities say militant groups like the so-called "Islamic State" have used social media to entice at least three dozen Malaysian Muslims to fight in what they call "jihad" in Syria and Iraq. As Mahi Ramkrishnan reports from Kuala Lumpur, counterterrorism police are deeply worried about what could happen when these militants return home.
Video

Video Could US Have Done More to Stop Rise of Islamic State?

President Obama says airstrikes against Islamic State militants in Syria will likely continue for some time because, in his words, "there is a cancer that has grown for too long." So what if President Obama had acted sooner in Syria to arm more-moderate opponents of both the Islamic State and the Syrian government? VOA State Department Correspondent Scott Stearns reports from the United Nations.
Video

Video Treasure Hunters Seek 'Hidden Treasure' in Central Kenya

Could a cave in a small village in central Kenya be the site of buried treasure? A rumor of riches, left behind by colonialists, has some residents dreaming of wealth, while others see it as a dangerous hoax. VOA's Gabe Joselow has the story.
Video

Video Ebola Patients Find No Treatment at Sierra Leone Holding Center

At a holding facility in Makeni, central Sierra Leone, dozens of sick people sit on the floor in an empty university building. They wait in filthy conditions. It's a 16-hour drive by ambulance to Kailahun Ebola treatment center. Adam Bailes was there and reports on what he says are some of the worst situations he has seen since the beginning of this Ebola outbreak. And he says it appears case numbers may already be far worse than authorities acknowledge.
Video

Video Identifying Bodies Found in Texas Border Region

Thousands of immigrants have died after crossing the border from Mexico into remote areas of the southwestern United States in recent years. Local officials in south Texas alone have found hundreds of unidentified bodies and buried them in mass graves in local cemeteries. Now an anthropologist and her students at Baylor University have been exhuming bodies and looking for clues to identify them. VOA’s Greg Flakus has more from Waco, Texas.
Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.

AppleAndroid

World Currencies

EUR
USD
0.7866
JPY
USD
109.25
GBP
USD
0.6139
CAD
USD
1.1120
INR
USD
61.428

Rates may not be current.