eBay sets rules on bitcoin sales in the UK In setting up a dedicated channel for virtual currency transactions, eBay is effectively banning the sale of bitcoins on other platforms - including its Auction-style and Buy-It-Now listing formats - thereby distancing itself from any risk. Bitcoin was not previously covered by any of the site's policies, meaning it has been traded relatively freely. Bitcoin is regarded as risky because its value has fluctuated wildly since its inception, meaning the exchange rate is extremely volatile. However, it has proven that it can do well as a traded currency. The value of bitcoin climbed from $2 per coin in 2011 to $20 per coin in 2013, and then jumped to $266 last April. Within the past couple of months, it had another price jump and is now hovering around $1,000. Both eBay president John Donahoe and David Marcus, president of eBay-owned PayPal, have shared their positive views on bitcoin in recent months, with Donahoe stating that he believes digital currency is going to be a "very powerful thing" in the future.