Baidu (BIDU) Suspends Bitcoin Payment Acceptance on Value Fluctuation - Bloomberg
Tweet
Share
E-mail
Get Alerts BIDU Hot Sheet
Join SI Premium – FREE
Baidu.com (Nasdaq: BIDU) said it is suspending bitcoin payment acceptance on value fluctuation. Headlines are from Bloomberg Friday afternoon.
Baidu also cited recent restrictions placed on the currency in China on the decision.
News comes just about one month after Baidu began to accept the digital currency as legal tender. Reports have Baidu opening up for bitcoin transactions on October 14th.
Bitcoin has been the talk of the Street this past week, with valuation shooting up this year from around $30 to well over $1,200 per unit.
Shares of Baidu are up about 0.8 percent Friday afternoon.
Baidu also cited recent restrictions placed on the currency in China on the decision.
News comes just about one month after Baidu began to accept the digital currency as legal tender. Reports have Baidu opening up for bitcoin transactions on October 14th.
Bitcoin has been the talk of the Street this past week, with valuation shooting up this year from around $30 to well over $1,200 per unit.
Shares of Baidu are up about 0.8 percent Friday afternoon.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Baidu (BIDU) call put ratio 1.6 calls to 1 put with a focus on August 130 calls into quarter results
- Hyperscale Data reviews strategic options, including Michigan sale
- BofA says US yen intervention may need stronger follow-up
Create E-mail Alert Related Categories
Forex, Hot Corp. News, Trader TalkRelated Entities
BitcoinSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
