The price of Bitcoin shot up past $1,000 Monday after Zynga Inc., an online gaming company, announced it would test using the digital currency as payment.
Bitcoin, the volatile unregulated currency, has hit highs and lows in recent weeks and has gained more widespread use. The currency recently plummeted in value after China took actions to limit its use in the country.
It hit a high of $1,093 on the Mt. Gox online exchange, a major Bitcoin trading exchange, before retreating to around $1,000 later Monday.
In an announcement posted to the website Reddit over the weekend, Zynga said it would accept Bitcoin as payment for the games “FarmVille 2,” “Castleville” and five others.
“In response to Bitcoin’s rise in popularity around the world, Zynga, with help from BitPay, is testing expanded payment options for players to make in-game purchases using Bitcoin,” the company said.