But trading in the currency has been volatile and last Tuesday it traded at a record high of over $900 before falling to $502.

Growing popularity in virtual currency bitcoin has fueled talk of it becoming a viable currency that could provide investors with an alternative to the dollar.

There have also been concerns about the lack of regulation governing bitcoins.



U.S. lawmakers on a Senate hearing earlier this month heard evidence on whether bitcoin should be considered a "legal means of exchange". And in U.S. Senate hearing last week, Federal Reserve chief Ben Bernanke used a quote from a previous committee to highlight "areas of long-term promise" for virtual currencies such as bitcoin.



(Read more: How hackers are targeting bitcoins)

Richard Branson meanwhile became the latest personality to embrace the virtual currency after announcing on Friday that his space flight service, Virgin Galactic, will start accepting bitcoins as payment.



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