Bitcoin tops US$1,000 after Zynga brings it into play

[PORTLAND] The price of Bitcoin surpassed US$1,000 again after Zynga said it would start accepting the virtual currency for some of its online social games, citing wider use of the digital money.

Bitcoins, which exist as software and aren't controlled by any country or banking authority, surged to about US$1,119 on the Mt.Gox online exchange, one of several markets where they are traded for dollars, euros and other currencies.

Bitcoins first crossed the US$1,000 threshold in late November and reached record at US$1,238 on Mt.Gox on Dec 4, but then plummeted to as low as US$640 after China's largest online market for the virtual currency stopped accepting deposits. The digital currency has rebounded as more merchants accept Bitcoins for everything from Gummi bears to smartphones on the Internet. Zynga is the latest merchant to accept Bitcoins, which can be used to buy virtual items in games.