Bitcoin Collapses Following Silk Road Shutdown

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
Today the FBI seized and shut down Silk Road, a website that allowed customers to buy illegal drugs using Bitcoin . As part of the bust, the government took 26,000 Bitcoins , or the equivalent of about $3.2 million, from Silk Road.

Following the news, Bitcoin's value began to collapse.

Here's a chart that shows Bitcoin's collapse today. You can see where exactly where the Silk Road news hits.