Bitcoin Boom Spreads to IPhones With Mobile-Payment Apps

Matt Tuzzolo, who used to split restaurant bills by sending money via PayPal, now wields his iPhone to pay his fellow diners -- in Bitcoins.

“It’s more convenient than PayPal,” said Tuzzolo, a software developer in Portland, Oregon, who uses the Gliph mobile application to transfer digital money on the go. “It’s as easy as sending a text.”

Gliph Inc., which has more than 25,000 users, has raised more than $350,000 from venture capitalists including Tim Draper, who has backed such companies as Skype and Tesla Motors Inc. It’s one of hundreds of Bitcoin-related programs available from Google Inc. (GOOG) and Apple Inc. (AAPL) app stores.

The mini-boom in Bitcoin software for smartphones is making it easier for consumers to use the virtual currency in place of cash for quick transactions, such as paying for food or splitting a bill. The widening appeal of the digital money is also fueling a rally that has lifted Bitcoins to record levels, surpassing $1,000 apiece last week.

“Bitcoin’s success hinges on how well it’s adopted and configured for mobile,” said Richard Crone, chief executive officer of payment-researcher Crone Consulting LLC. “They are very dependent on mobile actually scaling.”

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http://www.bloomberg.com/news/2013-12-05/bitcoin-boom-spreads-to-iphones-with-mobile-payment-apps-tech.html