Mt.Gox BTC values briefly scratch $300

Home » Mt.Gox BTC values briefly scratch $300

Only yesterday, we reported about the growing disparity between the value of a Bitcoin on Mt.Gox versus that same Bitcoin on any other exchange. Today’s prices have only amplified this trend, with trades on Mt.Gox reaching a recent low of $302, even as the price hovered well above $600 on most of the other major exchanges.

Mt.Gox chart for Feb. 14, 2014.

Mt.Gox chart for Feb. 14, 2014.

Although Mt.Gox did see prices rise to around $450 later in the day, it’s clear that the combination of frozen user accounts and serious doubts about the Tokyo-based exchange’s future are taking their toll. With Bitcoin value at Mt.Gox approaching half that of the other major exchanges, it’s increasingly difficult to see how Mt.Gox will remain competitive.

Other major exchanges took smaller, less dramatic hits earlier today following the news of the $2.6 million theft of escrow funds at black market site Silk Road. Bitcoin average prices haven’t been below $300 since November of last year.

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