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discount zerit Some had speculated that China is interested in encouraging bitcoin as part of its ongoing efforts to find a long-term alternative to the dollar as a home for its reserves. Moves by one of state-owned China Telecom???s subsidiaries to accept payments in bitcoin helped stir such talk earlier in the week. But with demand for bitcoin growing rapidly on Chinese-based exchanges, Chinese officials could be concerned that the possibility for anonymity could create incentives for people to use the digital currency to get around Beijing???s strict system of capital controls. Whatever the motive, the PBOC???s statement drove the bitcoin price as low as $840.32 on Mt. Gox???s exchange Thursday, down from Wednesday???s close of $1,096, before bouncing back above $1,100 during U.S. trading hours.