Bitcoin Value Rockets as US Government Sort of Legitimises the Virtual Currency

By Gary Cutlack on at

The worth of a virtual Bitcoin has rocketed upward, after the US Senate suggested that it thinks such forms of internet money should be thought of as offering a "legitimate financial service" and that it should be happy doing business with such providers.

The positive thinking from the US caused the value of a Bitcoin to rocket up to a high of around $900 or £560 each yesterday, making people who held their nerve (or forgot they had some) through the recent crash significantly wealthier on paper. This leaves the value of Bitcoin at around three times what it was back when the big Silk Road crash hit a couple of months ago. [BBC]