Bitcoin Exchange Rate Drops 25% On News Of Baidu Halting Bitcoin Acceptance
Baidu, the Chinese equivalent of Google, is no longer accepting
Bitcoin payments. Baidu first accepting Bitcoin just a few months ago
has been considered by many to be the “spark” that ignited the keg of
Bitcoin sentiment in China that in turn led the recent rise in exchange
rate.In a concise post Baidu told Chinese users that they were, effective immediately, halting their acceptance of Bitcoin.
由于近期比特币价格波动较大,用户利益无法保障,为响应国家控制比特币风险的精神,百度加速乐决定从即日起暂停接受比特币购买加速乐服务。translates to:
Due to today’s Bitcoin exchange rate volatility, during which we couldn’t profitably guarantee our users’ purchasing power, and as a response to the government’s fervor in controlling Bitcoin, Baidu’s Music Services effective immediately will no longer be accepting Bitcoin.

