Bitcoin soars past $7,000 for first time
Digital currency Bitcoin reaches all-time high of more than $7000, rising from just $0.06 on its launch.
A Bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. (Reuters Archive)
Bitcoin touched a new all-time high on Thursday, extending its bullish streak on news that the world’s largest derivatives operator will introduce futures contracts for the digital currency.
The value of the cryptocurrency rose 9.7 percent in a single day to reach as high as $7,445.
It took only 13 days for Bitcoin to reach the $7,000 threshold and eight days to climb above the $6,000 mark from $5,000, according to data on investing.com.
Its sharp climb comes after the CME Group announced on Tuesday it would begin offering Bitcoin futures contracts in the fourth quarter.
CME Chairman and CEO Terry Duffy said the decision was driven by “increasing client interest in the evolving cryptocurrency markets.”
Bitcoin’s value has now risen 21 percent since the beginning of this week and 665 percent year to date.
Bitcoin is a form of digital currency created and held electronically. It is decentralised without a central administrator and is currently not listed on any of the world’s major exchanges.
Copyright © 2024 TRT World.