Around the time Bitcoin hit $1,000 on most currency exchanges, it's value was still fairly intangible. Even in tech-savvy San Francisco, the list of things you could purchase with the digital currency was still pretty slim: sushi, cupcakes, tax-deductible donations to the Internet Archive, rent in two of the city's hacker hostels.
Then last week, in what might be considered the ultimate Silicon Valley wish fulfillment, a Florida man bought a $103,000 Tesla Model S from a Lamborghini dealership in Newport Beach. He paid about 91.4 Bitcoins to complete the sale.
Two days later, Bank of America decided it wanted in on the action, publishing its first financial assessment of the currency and deeming it "a serious competitor to traditional money transfer providers."More »