Bitcoin tops $1,000 for the first time since November

Bitcoin managed to top $1,000 for the first time last November but quickly fell in value following the news that China’s central bank planned to crack down on the currency. Now the cryptocurrency has managed to reach that level of value once again as major businesses such as Zynga and Overstock.com begin embracing Bitcoin. 

The price of bitcoin topped $1,000 on Mt. Gox, the second-largest exchange by volume, for the first time since mid-December, following multiple announcements of major businesses accepting the currency. Zynga announced Saturday that it is working with BitPay, a bitcoin-payment processor, to test accepting the digital currency as payment for items in certain online games. Last month, the CEO of Overstock.com, a popular discount-shopping website, revealed plans to accept bitcoin in the first half of 2014.