CHART: Bitcoin is going nuts again

Photo: Dean Mouhtaropoulos/Getty Images

The Bitcoin juggernaut continues, with the crypto-currency surging by another 5.4% in afternoon trade.

Bitcoin rose past $US1,900 last week, and traded above $US2,000 over the weekend.

It opened today’s session at $US2,000 exactly, and is now up another 5.36% to $US2,105 – a new record high:

Bitcoin has now more than doubled since late March.

Business Insider reported last week that recent gains appear to have been driven by developments in Japan, where Bitcoin is now recognised as legal currency.

There’s also speculation that the US Securities & Exchange Commission (SEC) will overturn its decision to ban the creation of a Bitcoin Exchange Traded Fund (ETF).

The SEC that it would it would accept public comments on the subject until May 15, but it’s yet to make a final decision.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at