‘Cryptocurrency’ on the rise: Bitcoin tops $1K

Risebitcoin29 Nov 2013 / USA Today – The value of the so-called cryptocurrency surged above $1,000 as it becomes easier to use as a way to pay and easier to access for investors looking for an alternative to gold.

One Bitcoin was briefly worth $1,073 on Wednesday, up from less than $100 earlier this year, according to Mt. Gox, which hosts and operates a popular Bitcoin trading platform. Later in the day it dropped to $930.

“Bitcoin is just starting to break out into the mainstream,” says Eric Tilenius, executive-in-residence at Scale Venture Partners, who has a small percentage of his personal investment portfolio in the digital currency.

The latest to jump on the Bitcoin roller coaster is Gyft, a mobile gift card company backed by Google Ventures. The start-up will give four percentage points back on gift-card purchases made on Thanksgiving Day and Black Friday using Bitcoin. The rewards come in the form of “Gyft points” that can be exchanged for new gift cards from more than 200 retailers, including Gap, Target and Amazon’s Zappos…… Read more


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