Cryptocurrency Round-Up: California Embraces Bitcoin; Silk Road Auction and Dogecoin's McShibe

• Bitcoin Price: £370.93 (via CoinDesk.com)

It was a positive weekend for the price of bitcoin after the much-publicised auction of almost 30,000 bitcoins seized by the US government from Silk Road last year.

While many had predicted the auction would have a negative impact on the value of bitcoin, the price of the world's number one cryptocurrency has risen above $600 (£352) for the first time since a major price drop began earlier this month predicated by the announcement of the auction - with the coin's market cap jumping more than $350 million in the last three days.

Elsewhere, litecoin, darkcoin, peercoin and dogecoin all remained relatively flat over the last 24 hours.

Auction results expected Monday

The auction of almost 30,000 bitcoins seized from the operators of the underground drugs marketplace Silk Road took place on Friday.

The auction took place for 12 hours on Friday and while the US Marshals Service - which ran the auction - has yet to reveal any details, it is expected to announce the winners on Monday.

It is unclear however if the winners will be made known publicly.

Over the weekend, one of the participants in the auction revealed some details about the auction. A syndicate run by Barry Silbert, CEO of bitcoin investment platforms SecondMarket and Bitcoin Investment Trust, was organised to allow smaller investors take part in the auction.

Tweeting about the results, Silbert said:

California legalises bitcoin and dogecoin

Last week we reported that a bill which would recognise bitcoin and other digital currencies as "lawful money" had been passed to California Governor Jerry Brown for final approval.

On Saturday Governor Brown signed the the bill into law clearing away possible state-level obstacles to alternative currencies such as bitcoin.

The bill, authored by Assembly member Roger Dickinson, would also recognise coupons as legal alternatives to the US dollar.

"In an era of evolving payment methods, from Amazon Coins to Starbucks Stars, it is impractical to ignore the growing use of cash alternatives," Dickinson said.

"This bill is intended to fine-tune current law to address Californians' payment habits in the mobile and digital fields."

Dogecoin McShibe gets closer

You could very soon be able to go into your local McDonald's outlet and ask for a McShibe - a doge-inspired burger which is in the running to become one of five new burgers sold by the fast food giant.

Dogecoin enthusiast and Reddit user Oskar Lipniewicz visited McDonald's UK head office kitchen in London this weekend along with 11 other finalists in the McDonald's My Burger competition.

The winners will be announced in two weeks and five of the 12 finalist burgers will make it onto the menu in outlets in the UK for a week at a time beginning next October

While Oskar initially called the burger the McShibe, it could also end up being called the McWow he revealed:

"When I mentioned my burger and the idea to the judges they were surprised at first, but when I explained all this behind the burger, they seemed to like it (Also they enjoyed the burger as well) and ask tons of questions about Dogecoin and us shibes. They asked if i had any alternative names in my pockets so i went with the McWow just in case they need to change it."

It is unlikely that you will be able to pay for the McShibe in dogecoin however, unless the fast food giant decides to embrace digital currencies very quickly.