how to invest in cryptocurrency


Bitcoin surges past $7,000 to reach all-time high

It increased $2,000 in one month.


Phillip Tracy


Posted on Nov 2, 2017   Updated on May 22, 2021, 12:26 pm CDT

Bitcoin is still booming.

The cryptocurrency soared past $7,000 for the first time, just a month after crossing the $5,000 mark.

Bitcoin’s value sits at $6,991 as of Thursday morning after dipping from a record high of $7,355. The rise follows news that the world’s largest derivatives marketplace operator, CME Group, will start offering Bitcoin futures in response to client demand by the fourth quarter this year. Analysts believe the move will bring wealthy mainstream institutions on board.

“Futures from an incumbent exchange bring bitcoin and cryptocurrencies into the regulatory fold,” Charles Hayter, CEO of Crypto Compare, told CNBC. “This allows more complex financial products to be created and will eventually open the doors to institutional money.”

The latest spike in value brings Bitcoin’s yearly gain to well over 600 percent.

H/T Bloomberg

Share this article
*First Published: Nov 2, 2017, 9:03 am CDT