Bitcoin Surges Past $7,000 to Extend Record Rally
- Cryptocurrency is up more than 600 percent this year
- Rally got impetus this week from CME Group futures plan
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Bitcoin surged past $7,000 for the first time, breaching another milestone less than one month after it tore through the $5,000 mark.
The digital currency got new impetus this week after CME Group Inc., the world’s largest exchange owner, said it plans to introduce bitcoin futures by the end of the year, citing pent-up demand from clients. Skeptics including Themis Trading say the rally is evidence that the software-created asset is a bubble that should not be given regulatory cover.