Investing.com - Bitcoin prices were higher on Monday, as demand for the virtual currency remained supported amid speculation an increasing number of online retailers around the globe will begin accepting Bitcoin payments in the year ahead.
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BTC/USD rose 2.8% during U.S. morning hours to trade at USD962.90 on the Tokyo-based Mt. Gox Bitcoin exchange. The currency traded in a range between USD910.25 and USD980.60.
In the past month, the number of businesses on CoinMap, a website showing physical companies and vendors accepting Bitcoin, has tripled to more than 2,690.
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.
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.