Bitcoin shoots past $1,800 for the first time

Bitcoin is trading at another record high on Thursday. The cryptocurrency is up 4.59% at $US1853.55 a coin after Ulmart, Russia’s largest online retailer, said it would begin accepting bitcoin, Cryptocoin News says.

The announcement from Ulmart comes despite Russia’s central bank saying it would wait until 2018 to consider allowing the use of bitcoin and other cryptocurrencies. At the beginning of April, Japan’s regulators announced bitcoin is now a legal payment method in the country.

Bitcoin’s has gained in 18 of the past 20 sesssions, a streak that has added nearly 60% to the cryptocurrency’s price. It began the run trading at about $US1,170 a coin.

Bitcoin has shrugged off China restricting trade, the SEC’s rejection of two bitcoin ETFs, and threats from developers to create a “hard fork” that would split the cryptocurrency in two, on its way to a gain of more than 95% so far this year.

It has been the top performing currency every year since 2010, aside from 2014.

Traders are currently on the lookout for the US Securities and Exchange Commission’s ruling on whether it will reverse its decision to reject the Winklevoss twins’ exchange-traded fund.

Back in March, the SEC rejected two bitcoin ETFs, saying it “is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.”

A ruling will be handed down no later than May 15.

Get the latest Bitcoin price here.

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