Bitcoin is breaking records again

  • Bitcoin rises above $US6,500 for the first time on Wednesday morning.
  • Rise extends recent bull run for the cryptocurrency.
  • Fresh record high comes hot on the heels of CME Group’s plans to launch bitcoin futures.

Bitcoin continues to post record highs, climbing above $US6,500 for the first time on Wednesday.

The digital currency is up 1.1% against the dollar to $US6.527.23 at 9.30 a.m. GMT (5.30 a.m. ET):

Bitcoin has been continually posting record highs of late, breaking through the $US6,300 and $US6,400 for the first time in the last few days.

Wednesday’s rise appears to be a continuation of Tuesday’s rally, which was sparked by news that exchange operator CME Group is planning to introduce bitcoin futures.

Mati Greenspan, an analyst with trading platform eToro, said on Wednesday: “Not only is this a monumental testament to the belief in bitcoin and the demand in the market but it will also boost the liquidity by opening the market to many more interested players.”

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.

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