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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.