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Experienced Bitcoin Investor Unrattled By Problems With Mt. Gox

By Anthony Silva, WBZ News Radio 1030 New England Business Editor
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A 'paper wallet' is seen beside a Bitcoin ATM at South Station February 20, 2014. (Photo by Darren McCollester/Getty Images)

A ‘paper wallet’ is seen beside a Bitcoin ATM at South Station February 20, 2014. (Photo by Darren McCollester/Getty Images)

420x316-grad-silva Anthony Silva
Anthony Silva is co-host of the WBZ Afternoon News heard each wee...
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BOSTON (CBS) — “Hank” has been investing in Bitcoin for years. He says there’s been a lot of bad news around the digital currency lately.

A bitcoin paper wallet. (WBZ-TV)

A bitcoin paper wallet. (WBZ-TV)

“Through all of this, Bitcoin itself is as robust as ever. Bitcoin itself is working flawlessly,” he says.

WBZ NewsRadio 1030’s New England Business Editor Anthony Silva reports

“Hank” says the problem at Mt. Gox was a case of exchange mismanagement with unwarranted withdrawals, not an issue with Bitcoin itself.

“Over times, things like Mt. Gox will happen,” he says. “Hank” thinks those who stay with Bitcoin will be the strong ones.

“Hank” says he’s not worried about Bitcoin prices going down, even though some traditional banking experts are very nervous.

“Hank” understands that.

“Bitcoin replaces many of the roles that bankers fill, and Bitcoin itself has been rock-solid through all of this.”

“Hank” says even though one exchange has failed, that does not reflect on Bitcoin itself.

“The beauty of Bitcoin is that it’s not regulated by a government. There’s no government to step in, print more Bitcoin, and manipulate the markets.”

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