50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Bitcoin prices rise 5% to trade at USD740 in post-Christmas trade

Published 12/26/2013, 05:25 AM
Bitcoin prices hits USD740 in post-Christmas trade
BTC/USD
-
Investing.com - Bitcoin prices rose more than 5% on Thursday to hit a one-week high, as demand for the virtual currency remained supported amid ongoing speculation an increasing number of online retailers will begin accepting Bitcoin payments in the year ahead.

BTC/USD rose 6.4% during European morning hours to trade at USD749.50 on the Tokyo-based Mt. Gox Bitcoin exchange. The currency rose to a session high of USD750.00 earlier in the day, the strongest level since December 20.

Online retail outlet Overstock.com said last week that it will start accepting Bitcoin payments as early as the second half of 2014. The website will be the first major online retailer to do so.

Prices of the virtual currency soared to an all-time high of USD1,241.10 on November 29. It was trading at USD100 in early October.

Bitcoin is digital cash for the internet and it is not backed by a government or central bank to regulate or issue it. It can be used to purchase goods and services from stores and online retailers.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.