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Black Friday Saw A Huge Surge In Bitcoin Transactions

Nov. 29 marks BitPay’s busiest day yet.

Black Friday Saw A Huge Surge In Bitcoin Transactions
[Image: Flickr user Antana]

During last year’s inaugural Bitcoin Black Friday, BitPay–hailed as the PayPal for Bitcoin–processed 99 transactions. This year, the system experienced a nearly 6300% surge, processing 6,296 transactions Friday and making Nov. 29 BitPay’s busiest day yet.

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Overall, BitPay saw 55,288 transactions in November, a 165% increase from the previous month. This was no doubt accelerated by Shopify’s announcement released the day before Thanksgiving that its 75,000 merchants can now accept Bitcoin using BitPay. Last week, the value of Bitcoin soared to an all-time high, surpassing $1,000 on the Mt. Gox exchange.

About the author

Based in San Francisco, Alice Truong is Fast Company's West Coast correspondent. She previously reported in Chicago, Washington D.C., New York and most recently Hong Kong, where she (left her heart and) worked as a reporter for the Wall Street Journal.

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