Bitcoin is at it again. Overnight, the cryptocurrency topped $US1,900 for the first time. Currently it trades up 2.3% at $US1938.81 a coin.
Friday’s gains have bitcoin up about 102% since March 27. The cryptocurrency has gained in 23 of the past 26 sessions.
The rally has seemingly been sparked by news out of Japan at the beginning of April that bitcoin was now considered a legal payment method in the country. Along the way, Ulmart, Russia’s largest online retailer, said it would begin accepting bitcoin even though Russia said it wouldn’t explore the cryptocurrency until 2018.
The gains also seem to be boosted by speculation the US Securities and Exchange Commission could overturn its Winklevoss bitcoin ETF ruling. The SEC was accepting public comment on its decision until May 15, but hasn’t yet announced whether or not it will overturn its rejection of the ETF.
Bitcoin has gained 105% so far in 2017. It has been the top-performing currency every year since 2010, except for 2014.
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