Bitcoin’s ascendancy is set to continue over the Thanksgiving holiday, with boosters using the Black Friday shopping stampede to promote the digital currency at hundreds of participating vendors.
Online activists and retailers are teaming up to host Bitcoin Black Friday, with more than 250 confirmed participants—such as Reddit, OK Cupid, and CheapAir.com—offering deals to Bitcoin users.
“Bitcoin is a great tool for merchants at every level. Because it is decentralized (making it nearly free to send and receive money), the deals merchants can offer are a lot lower than any deals they’ve been able to offer before,” said Jon Holmquist, a Bitcoin evangelist helping to organize the day’s rush of Bitcoin spending opportunities.Bitcoin has enjoyed a boom in popularity this month. It earned plaudits during Senate hearings last week and passed the $1,000 mark for the first time today, according to Mt. Gox, Bitcoin’s biggest exchange. The difficulty of tracing Bitcoin transactions is one of the main reasons behind the digital currency’s popularity but is also the source of the leading concern: illegal activity online.