Bitcoin, the digital crypto-currency has gone over $1000 for the first time this week, at the most prominent Bitcoin exchange, Mt.Gox. Last week it was around $600.
The fast ascent of Bitcoin value can be tied to recent acknowledgments it received from various governmental and organizational institutions around the world, including but not limited to various courts, government ministries and major internet sites. This situation is driving adoption, and causing a sharp increase in the value of Bitcoin.
Bitcoin’s rise has triggered a rise in other crypto currencies like Litecoin, as can be seen from the Crypto Currency exchange BTC-e.com
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