Bitcoin cleared the $US10,000 barrier overnight and has consolidated its gains in Asian trade.
A short time ago, prices had reached $US10,370 trading on Bitfinex, one of the largest US-based cryptocurrency exchanges.
While the recent price action marks around a $US2,000 increase since last Thursday, the current value of Bitcoin varies considerably among different exchanges.
The table below provides a summary of Bitcoin conversions into USD among different global exchanges as at 3:30pm AEDT today, via the website coinmarketcap.com.
Among the 21 exchanges listed, the gap between the highest and lowest conversion amounts is $US813.52.
That’s a difference of more than 8%, which is perhaps reflective of the price volatility as Bitcoin continues to attract mainstream popularity.
The amount of volume traded in USD is also a useful guide as to the size of different Bitcoin exchanges.
For example, Bitfinex — a well-known cryptocurrency exchange — had more than $US500 million worth of Bitcoin transaction volume in the last day alone.
Bitfinex charges 2% per transaction, so volume of $583 million equates to daily fee revenue of around $US11.6 million.
Amid the latest price surge, Bitcoin is also beginning to attract interest from institutional investors, with the CME Group — one of the largest exchange groups in the world — expected to launch Bitcoin futures in December (here’s how that will work).
However, some investors have expressed scepticism that a regulated futures market will be launched by the end of the year.