LaTimes reporting on Bitcoin, the unregulated digital currency that once was valued at $10, hit a record Wednesday, trading above $1,000 per bitcoin on the Mt. Gox online exchange.

Speculators from China and the U.S. have been snapping up the digital currency as it becomes a more popular form of payment.

Demand has been strong in China where Baidu, a popular online search engine, accepts bitcoin as payment for services.

The digital currency has been rising steadily over the past few months and it has become more widely accepted. Virgin Galactic, the firm that aims to send tourists to space, announced this week it will accept bitcoin as payment for travel.

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