07 Nov '13, 11am

Bitcoin's back: Online currency surges

Bitcoin's back: Online currency surges

Just a month after many people were predicting its demise, bitcoin is touching new highs. The virtual currency climbed to a record $273.50 on Mt. Gox, one of the many bitcoin exchanges, marking a 148 percent rise since Oct. 2, when it traded as low as $110. Bitcoin plunged in October after U.S. law enforcement officials shut down Silk Road, an online purveyor of drugs and other illegal services. Bitcoin had been dogged by the perception that it was used primarily for transactions on Silk Road, and many expected demand to dry up after the website was closed.

Full article: http://www.cnbc.com/id/101176614

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