Bitcoin exceeded $13,000 for the first time, propagandizing this week’s increases to more than 30 percent amid speculation that the use of futures will help make digital currencies a legitimate resource class for mainstream investors.
The largest cryptocurrency by market value has soared from less than $1,000 at the start of its first year as confidence climbing for the distributed record technology known as blockchain that is at the heart of bitcoin. The cost upsurge has been accompanied by a proliferating chorus of advice that the speculative frenzy is an asset bubble poised to burst.
Cboe Global Markets Inc. has said it will start trading bitcoin futures on Dec. 10, while CME Group Inc.’s contracts are set to introduction on Dec. 18. Nasdaq Inc. is planning to offer futures in 2018, according to person or persons familiar with the issues. Cantor Fitzgerald LP’s Cantor Exchange is creating a bitcoin derivative, and startup LedgerX once offers options.
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