Chinese Bitcoin Gold Rush after Mt Gox Exchange shutdown

Mt Gox exchange shutdown sparks Chinese bitcoin gold rush

Posted on February 26, 2014 by Stacy Herbert — No Comments ↓

Chinese investors rushed to buy bitcoin, seeing it as potentially undervalued, after the value of the virtual currency fell following the shutdown of the Mt Gox bitcoin exchange this week.

Since Tuesday, more than 30,000 bitcoins have changed hands in China. That’s four times the usual trade volume, and compares with just 300 exchanged in the United States.

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