18 Apr '13, 11am

'I lost $5,000 in Bitcoin crash, but I'm still a believer'

Simon Lang of Staffordshire, England, began investing in Bitcoins in 2011. Despite the recent price swings, Lang plans to hang onto his investment. At the start of the year, Simon Lang was about $1,000 in the hole on his initial Bitcoin investment. But as the price of the digital currency ballooned to an all-time high of $266 last week, Lang found himself $60,000 richer. But that didn't last very long. As Bitcoin prices tumbled to around $50 earlier this week, the value of his stake shrank to about $11,000. "I was surprised at how fast the price went up," said Lang, a 32-year old digital forensics manager in Staffordshire, England. "I was expecting it to fall a bit, but not as much as it has." Related: Bitcoin bubble may have burst The price of the virtual currency, which was created by an anonymous hacker just four years ago, has increased almost 20-fold this year. It gai...

Full article: http://buzz.money.cnn.com/2013/04/18/bitcoin-investor/?se...

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