Bitcoin soars through $14 000, up more than 40% this month

2017-12-07 06:50 - Adam Haigh, Bloomberg News
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Bigger than Boeing


Sydney - Bitcoin climbed as much as 7.9% on Thursday as it surged above $14 000, extending this month’s advance to more than 40%. The price of the cryptocurrency touched $14 399.99, a new record, according to Bloomberg pricing.

ASX, the main exchange operator for equities and derivatives in Australia, on Thursday said it will start using blockchain to process equity transactions. Blockchain is the ledger software that makes bitcoin and other cryptocurrencies possible, and Digital Asset Holdings, the startup run by former JPMorgan Chase & Co banker Blythe Masters, will supply the technology.

Blythe Masters has told banks that blockchain will change everything.

The latest price move will add to a chorus coming from naysayers who assert the speculative frenzy is an asset bubble waiting to pop. The largest cryptocurrency by market value has soared from less than $1 000 at the start of the year, up more than 1300%.

Cboe Global Markets has said it will start trading bitcoin futures on December 10, while CME Group’s contracts are set to debut on December 18. Nasdaq is planning to offer futures in 2018, according to a person familiar with the matter. Cantor Fitzgerald’s Cantor Exchange is creating a bitcoin derivative, and startup LedgerX already offers options.

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