Bitcoin Soars to An All-time New High

Bitcoin has been having one amazing year, soaring 600% this years so far.

The virtual currency hit a new high on Thursday, crossing the $7,000 mark for the very first time.

While JPMorgan CEO Jamie Dimon may not like the currency, even saying those who are “stupid enough to buy” it would “pay the price for it one day,” it seems that many others are gobbling it up.

The currency has been rallying this week after CME Group announced on Tuesday that it would introduce bitcoin futures.

Bitcoin’s market value shot as high as $189 billion for the first time days after the announcement.

CME Group, which is the world’s biggest derivatives operator, said it would be introducing bitcoin futures contracts which could attract a lot more institutional investing.

There’s no telling how much higher the currency can go despite Dimon and even Blackrock CEO Larry Fink openly criticizing it.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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