$91.50: The Low for Bitcoin’s Withdrawal Price

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Feb. 21 (Bloomberg) –- On today’s “BWest Byte,” Bloomberg’s Brad Stone reports on the low for Bitcoin’s Withdrawal price on the Tokyo-Based Mt. Gox Exchange. (Source: Bloomberg)

Below for bitcoin on the exchange.

-- mount gox has had horrible technical problems, very bad communication with its traders.

We are seeing escape selling right now where bitcoin owners are just taking the dollars out because they do not trust that that exchange is going to be there.

There are other bitcoin exchanges around the world, but the rate is much higher.

Still lower than that thousand dollar price range earlier in the year when there was so much enthusiasm for bitcoin.

The problems at mount gox are de-stabilizing the currency.

We talked about the regulatory issues, countries like china, russia, india questioning this currency.

At what point will they say they do not want with their money into this?

There are certainly areas of society, but these people are believers.

We did the bloomberg biggest week -- businessweek cover story, that is the one thing that i took away, that they are long-term investors, and they have an almost religious belief in the power of this concern -- this currency.

I bought a few bitcoins for family for christmas -- just kidding.

The more laces that will accept them, that is when it becomes the story, away from the people that believes that it.

The jury is out.

I am only willing to bet the $10 that i have a bit coin.

Thank you for watching.

This text has been automatically generated. It may not be 100% accurate.

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