Bitcoin Back Above $1,000 as Major Businesses Embrace Currency

 By 
Seth Fiegerman
 on 
Bitcoin Back Above $1,000 as Major Businesses Embrace Currency

The price of bitcoin topped $1,000 on Mt. Gox, the second-largest exchange by volume, for the first time since mid-December, following multiple announcements of major businesses accepting the currency.

Zynga announced Saturday that it is working with BitPay, a bitcoin-payment processor, to test accepting the digital currency as payment for items in certain online games. Last month, the CEO of Overstock.com, a popular discount-shopping website, revealed plans to accept bitcoin in the first half of 2014.

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Bitcoin first topped $1,000 in late November 2013, but fell below that mark early the following month after news that China's central bank planned to crack down on the currency. Baidu, China's largest search engine, also announced that it would no longer accept the digital currency as a form of payment.

Across all exchanges, the average price of bitcoin is still slightly below $1,000, as you can see in the chart, below, from Blockchain.info, though it has skyrocketed from this time last year when it was trading in the double digits:

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