China's love-hate relationship with virtual currency Bitcoin
17 December 2013 Last updated at 10:26 GMT
Chinese investors have limited options where to put their money, but they have been attracted to Bitcoin by the skyrocketing returns.
At the start of the year, a single Bitcoin cost $14, but they now retail for $850 each - promoting analysts to suggest short-term speculation is creating a Bitcoin bubble.
And while the Chinese authorities have not banned them, the country's banks can no longer use them for transactions.
Martin Patience reports from Beijing.