01 September 2016

Bitcoin smashes $1000 mark on Zynga adoption

06 January 2014  |  4121 views  |  0 bitcoin

Social gaming giant Zynga will start accepting bitcoin as a payment option in a move which has helped drive the virtual currency's price back past the $1000 mark.

In a post on Reddit, Zynga says that it is working with bitcoin payment specialist BitPay to test in-game purchases for some of its most popular titles, including FarmVille 2 and Hidden Shadows.

Zynga says that the decision comes "in response to Bitcoin's rise in popularity around the world," adding: "We look forward to hearing from our players about the Bitcoin test so we can continue in our efforts to provide the best possible gaming experience."

The vote of confidence helped push bitcoin's value to more than $1090 on Monday morning on the Mt. Gox exchange. The virtual currency first broke the $1000 barrier in November but plummeted to around $540 after China's biggest exchange said that it is no longer accepting renminbi deposits in light of regulatory pressure.

Since then, despite several other central banks issuing their own warnings about the currency, its value has gradually recovered as more merchants begin accepting it.

Meanwhile, the firm behind the world's first bitcoin ATM, Robocoin Technologies, says that it plans to follow up its Vancouver machine with one in Hong Kong. However, any hopes of installing a unit in Taiwan appear to have been dashed by the Financial Supervisory Commission, which has told a news agency that it will block any efforts.

Separately, the latest crypto-currency bidding to take on bitcoin has been unveiled: Coinye West. "Inspired" but not endorsed by the rapper, the currency will launch on 11 January, joining the likes of meme-based dogecoin in the novelty money ranks.

The anonymous team behind Coinye West told Vice: "Coinye West is a cryptocurrency for the masses. Bitcoin is for hardcore money-hoarders, and Dogecoin was more for the internet-meme crowds."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Indian bitcoin exchange shuts after central bank warning

Indian bitcoin exchange shuts after central bank warning

02 January 2014  |  6799 views  |  1 comments | 7 tweets | 3 linkedin
Bitcoin tanks after Chinese exchange blocks new deposits

Bitcoin tanks after Chinese exchange blocks new deposits

18 December 2013  |  4815 views  |  0 comments | 9 tweets | 4 linkedin
Norway says bitcoin an asset, not a currency

Norway says bitcoin an asset, not a currency

16 December 2013  |  5650 views  |  2 comments | 11 tweets | 6 linkedin
Coinbase scores $25 million funding round as VCs pile into bitcoin

Coinbase scores $25 million funding round as VCs pile into bitcoin

12 December 2013  |  4002 views  |  0 comments | 3 tweets | 2 linkedin
PayPal boss backs bitcoin, but not as a currency

PayPal boss backs bitcoin, but not as a currency

11 December 2013  |  5656 views  |  1 comments | 14 tweets | 12 linkedin
Swiss to vote on proposals to treat bitcoin as foreign currency

Swiss to vote on proposals to treat bitcoin as foreign currency

10 December 2013  |  35362 views  |  0 comments | 31 tweets | 13 linkedin
China bans banks from bitcoin transactions as Wall Street wades in

China bans banks from bitcoin transactions as Wall Street wades in

05 December 2013  |  6468 views  |  7 comments | 9 tweets | 6 linkedin
Bitcoin hits $1000 mark

Bitcoin hits $1000 mark

27 November 2013  |  3926 views  |  0 comments | 5 tweets | 2 linkedin
Danish bitcoin exchange Bips latest to suffer cyber-breach

Danish bitcoin exchange Bips latest to suffer cyber-breach

25 November 2013  |  4283 views  |  1 comments | 6 tweets | 6 linkedin
Gaming company fined $1 million for using players' computers to mine for bitcoins

Gaming company fined $1 million for using players' computers to mine for bitcoins

20 November 2013  |  3465 views  |  0 comments | 8 tweets | 6 linkedin
Senate Committee sets date for bitcoin hearing

Senate Committee sets date for bitcoin hearing

11 November 2013  |  7002 views  |  0 comments | 6 tweets | 4 linkedin
HSBC man is first in line as bitcoin ATM racks up $10K on inaugural outing

HSBC man is first in line as bitcoin ATM racks up $10K on inaugural outing

31 October 2013  |  11196 views  |  0 comments | 13 tweets | 8 linkedin
First bitcoin ATM set to go live

First bitcoin ATM set to go live

28 October 2013  |  7762 views  |  5 comments | 17 tweets | 7 linkedin
AmEx and Zynga team on pre-paid card with Farmville rewards

AmEx and Zynga team on pre-paid card with Farmville rewards

22 May 2012  |  5799 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comVisit equens.comVisit dh.com

Top topics

Most viewed Most shared
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
9881 views comments | 23 tweets | 26 linkedin
Cultural change crucial in digital transformationCultural change crucial in digital transfo...
7580 views comments | 11 tweets | 10 linkedin
Mondo becomes MonzoMondo becomes Monzo
6698 views comments | 14 tweets | 9 linkedin
hands typing furiouslyBlockchain: Some Remarkable Announcements!
6633 views 0 | 5 tweets | 15 linkedin
Global Fintech Hubs Federation launchesGlobal Fintech Hubs Federation launches
5865 views comments | 19 tweets | 5 linkedin