Battered bitcoin rose back toward $4,000 on Sunday as Ohio appeared ready to become the first state to allow businesses to use the digital currency to pay their taxes.
Beginning this week, businesses will be able to go to OhioCrypto.com and register to pay everything from cigarette taxes to employee withholding taxes with bitcoin. Eventually, individuals will be able to use the digital currency for their taxes.
Bitcoin declined earlier Sunday to $3,447.58, the lowest level since August 2017, according to the news site CoinDesk.
Over the past week, the digital currency has lost almost 30 percent of its value. It reached its all-time high of almost $20,000 in December 2017.