David Rabahy pulled his bitcoins out of Mt.Gox before things went south -- but the ordeal has cost him money anyway.
The price of a bitcoin has dropped significantly in recent weeks, due to a sharp drop in investor confidence. Mt.Gox's troubles are the primary driver behind that dip.
Rabahy, a 55-year-old software consultant in Northville, Mich., first got into Bitcoin because of his son, pictured with him above. Then in mid-2013 he invested $10,000 and some of his retirement funds into Bitcoin. Although that had skyrocketed in value to more than $100,000 by December, it's now worth half that.
He intends to keep his bitcoins, though. And he's glad to see Mt.Gox go down without government help.
"Nobody can come in and save Mt.Gox from their mismanagement. Perfect," he said. "I'd rather see a competitor that is well managed succeed."