Bitcoin hits two-year high as yuan worries drive Chinese demandhttp://economictimes.indiatimes.com/news/international/business/bitcoin-hits-two-year-high-as-yuan-worries-drive-chinese-demand/articleshow/52526675.cmsLONDON: The price of the web-based digital currency bitcoin soared to its highest in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the yuan drove increased demand from China .
Trading volumes on the Chinese bitcoin exchange BTCC surged to three to five times their daily average since Friday, according to CEO Bobby Lee , as Chinese savers have moved to protect their money against a further devaluation of the yuan.
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