Baidu (BIDU) Suspends Bitcoin Payment Acceptance on Value Fluctuation - Bloomberg
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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.
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