"Resilient" Bitcoin Surges Above $1000 As ZyngaConfirmsAdoption
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It seems the adoption of major US-based vendors of the digital currency is trumping the Chinese clamp-down on Bitcoin as first Overstock and now Zynga confirm their adoption of the crypto-currency. For the first time since the PBOC issued its statement, Bloomberg reports ZyngaispartneringwithBitPayto test Bitcoinpayments. As ConvergEx’s Nick Colas notes, "Bitcoin has beenremarkablyresilientinthefaceofallthebadnewsoutof China. Thestrengthshows a continuedinterest, whichis a very positive sign."
Dani Dudeck, a spokeswoman for San Francisco-based Zynga, confirmed a postintroducing a plan to test Bitcoinpaymentsbythecompany on the reddit.com community website. Players will be able to pay via the BitPay payments service for players of FarmVille 2, CastleVille and other games, Zynga said.
“We look forwardtohearing from our players about the Bitcoin test so we can continue in our efforts to provide the best possible gaming experience,” Zynga said.
Victoria’s Secret Stores LLC has signed up with Gyft, an app that lets users buy gift cards with Bitcoins. Overstock.com Inc. plans to start accepting Bitcoins next summer, Chief Executive Officer Patrick Byrne said in an interview last month.
“We think there’s an underserved part of the market that wants to use Bitcoins and can’t,” Byrne said. The company needs time before it starts accepting Bitcoins in order to figure out how to process Bitcoin transactions and to hedge Bitcoin sales (the currency is highly volatile), he said.
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