Bitcoin sinks

SAN FRANCISCO, Oct 3: The price of the bitcoin digital currency dropped on Wednesday, after US law enforcement authorities shut down Silk Road, an online marketplace used to buy and sell illegal drugs.

The bitcoin, valued by many for its anonymity, fell to $129 from over $140 a day before.

Earlier, the currency traded as low as $110.

The digital currency's drop came after the FBI arrested alleged Silk Road owner Ross William Ulbricht, 29, known as “Dread Pirate Roberts,” on Tuesday in San Francisco.—Reuters

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