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Bitcoin prices trade above USD800 in subdued trade

ForexJan 02, 2014 06:15AM ET
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Bitcoin prices edge higher in subdued trade

Investing.com - Bitcoin prices edged higher in subdued trade on Thursday, as demand for the virtual currency remained underpinned amid speculation an increasing number of online retailers will begin accepting Bitcoin payments.

BTC/USD rose 1.15% during European morning hours to trade at USD817.20 on the Tokyo-based Mt. Gox Bitcoin exchange. The currency rose to a session high of USD823.77 earlier in the day.

In the past month, the number of businesses on CoinMap, a website showing physical companies and vendors accepting Bitcoin, has tripled to more than 2,100.

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.

Bitcoin prices trade above USD800 in subdued trade
 

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