- Google searches for bitcoin have surpassed queries for President Donald Trump for the first time.
- Interest in the cryptocurrency this year has helped drive a nearly 1,000% rally.
- US regulators on Friday cleared the way for bitcoin futures trading, which should further increase participation in the crypto market.
It’s one anecdote that shows how interest in bitcoin and buying have driven its parabolic 1,000% rally this year.
Another is the growing number of top Wall Streeters – from bank CEOs to equity strategists – who have been asked or have offered takes on bitcoin. On Thursday, Carl Icahn told CNBC bitcoin was similar to the Mississippi Bubble of the early 1700s.
Bitcoin searches on Google surpassedTrump searches late in November.
Throughout last month, speculation mounted that US regulators would give the green light to futures trading. The confirmation came Friday when the Commodity Futures Trading Commission said it would permit futures on three exchanges.
Futures contracts will allow traders to profit from their bets on bitcoin price moves without necessarily buying the cryptocurrency, and could increase participation among larger Wall Street firms.
Bitcoin jumped 7% to $US10,746 against the dollar at 9:04 a.m. ET, after the CFTC’s announcement. It hit an all-time high above $US11,000 on Wednesday.