Skip to main content
  1. News
  2. Business & Finance
  3. Industry

Bitcoin price solidifies on Monday

See also

Following a difficult week that saw the MtGox exchange freeze accounts and declare bankruptcy, Bitcoin posted strong gains on Monday, topping $700 during the trading day and closing at $671.

This gain represents an increase of nearly 60% from last week's low of $445.92. Last Friday, as MtGox filed for bankruptcy, news emerged that the exchange had somehow lost some 850,000 Bitcoins, valued at $5.7 billion at today's valuation.

The fall of MtGox threatened to take Bitcoin down with it, but fans of the digital currency have long understood that the value of Bitcoin is not dependent on any one exchange. In fact, the loss of the coins stored with MtGox could actually drive demand, since many people who previously held Bitcoin are buying back into the market through solvent exchanges like Coinbase.



  •  Day 17
    Israel continues their ravaging bombardment on Gaza as the conflict wages on
  • MH17 victims arrive home
    40 bodies of the MH17 plane crash return to a somber homecoming in Holland
    Top News
  • Military advisers to Ukraine
    President Obama announces the deployment of military advisers to Ukraine
  • Bubonic plague in China
    A bubonic plague outbreak in Yumen prompts China to quarantine the city
    World News
  • Air Algierie disappearance
    A flight headed from Burkina Faso to Algeria disappears from radar over Mali
  • Windows Phone training portal
    Microsoft launches Windows Phone training portal in attempt to woo consumers