After a tireless campaign from Bitcoin supporters, Reddit has finally made the decision to accept Bitcoin as payment for Reddit Gold.
Reddit, the 135th most visited site globally and the 61st most visited site by Internet users in the United States, joins Wordpress as one of the largest web businesses to adopt the increasingly popular digital currency. Reddit has chosen to use Coinbase as their Bitcoin payment processor. Coinbase recently made headlines for having conducted $1,000,000 in Bitcoin transactions in one month.
Seemingly in response to the announcement, Bitcoin moved higher, trading at $27.50, a new 52-week high and a sharp bounce off of yesterday's $21.70 low.
Reddit is a subsidiary of the Advance Publications corporation, the 46th largest private company in the United States. As a result, this move by Reddit could be interpreted as an indication that large mainstream businesses are ready to adopt and accept Bitcoin as a real and useful currency.