- Bitcoin posted a record high above $US6,330 on Tuesday.
- Its price jumped after the exchange group CME announced the launch of bitcoin futures.
Bitcoin jumped to a record high on Tuesday after the futures exchange operator CME announced plans to launch bitcoin futures.
CME announced plans to launch the new futures contracts in the fourth quarter “pending all relevant regulatory review periods.” CEO Terry Duffy said the move was motivated by “increasing client interest in the evolving cryptocurrency markets.”
Bitcoin popped against the dollar on the news. The cryptocurrency is up over 3% to $US6,337.29 at 2.10 p.m. GMT (10.10 a.m. ET) — passing the record high of $US6,306 reached Sunday evening.
Bitcoin has been on a tear in 2017, rising by over 500% against the dollar this year. The price rise has been driven by increasing mainstream adoption and awareness of bitcoin and cryptocurrencies more generally. At least 55 cryptocurrency hedge funds have sprung up this year, many of them focusing on bitcoin.
Last week, the renowned Silicon Valley investor Peter Thiel said people were “underestimating bitcoin.”
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