Bitcoin extended its eye-popping rally on Wednesday, breaking above
$12,000 to a record high despite questions about the crypto currency’s
real value and worries about a dangerous bubble.
The move opens the door to added regulation but also more
mainstream adoption, as bitcoin futures and other derivatives would make
it easier to trade the new asset class.
Bitcoin received a boost after Friday’s
announcement by the main U.S. derivatives regulator that it would allow
CME Group Inc and CBOE Global Markets to list bitcoin futures contracts.
Bitcoin’s
meteoric ascent of over 10-fold from below $1,000 at the start of the
year has drawn regulatory scrutiny around the world.
Some
high profile individuals such as Nobel Prize-winning economist Joseph
Stiglitz have said the cryptocurrency should be outlawed.
Bitcoin was last up 4.48 percent at $12,200.40 on the Luxembourg-based Bitstamp exchange BTC=BTSP after surging to the record peak of $12,276.00.
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