VENTURE CAPITAL POST

Tokyo, Japan-based Bitcoin exchange Mt Gox announced on its site that it temporarily halted Bitcoin withdrawals to resolve a technical problem that arose from the increased withdrawal traffic.

The price of Bitcoin went over $1,000 on Mt. Gox again today after Zynga Inc said it would be accepting the virtual currency, Bloomberg reported.

New York-based Bitcoin fund Bitcoin Investment Trust has raised around $65 million in virtual currency after just two months in operation, according to the fund's founder.

A report said the price gap of Bitcoins sold on BTC China and the virtual currency on foreign exchanges had tempted some traders to take advantage by conducting arbitrage.

In a bid to ensure the user security of in its platform, popular Bitcoin trading exchange Mt Gox announced today that it is implementing a new one-time password card system.

Almost all cryptocurrencies (peer-to-peer digital currencies) has been growing fast over the last seven days, including Bitcoin, Litecoin, PeerCoin, Megacoin, and Namecoin, according to coinmarketcap.com.

The wider acceptance of bitcoins reportedly brought its trading value at over the USD 1,000 mark on Mt. Gox, encouraging speculators to grab their share of the virtual currency.

The price briefly topped the equivalent of $1,000 on Chinese exchange BTC China back on 19th November, but this is the first time this level has been reached in a US dollar denominated exchange rate.

A report by the Washington Post noted that Bitcoin's increasing trade value would benefit early investors like Bitcoin lead developer Gavin Andresen and the Winklevoss brothers.

Mt. Gox's financial worries further increased after the US Department of Homeland Security took USD2.9 million from its Dwolla account and another USD2.1 million worth of frozen assets from the company's Wells Fargo accounts.