Bitcoin exceeded $ 12,000 for the first time amid speculation that the widespread use of futures will help digital currencies look like a Legitimate asset class for mainstream investors.
The largest cryptocurrency by market value has soared from less than $ 1,000 at the beginning of the year as optimism increases for the distributed accounting technology known as blockchain that is at the heart of bitcoin. The rise in prices has been accompanied by a growing chorus of warnings that the speculative frenzy is an asset bubble about to explode.
QuickTake: Everything about bitcoin, blockchain and the crypto world
Cboe Global Markets Inc. has said that it will start trading bitcoin futures on December 10, while CME Group Inc. contracts will debut on December 18. from December. Nasdaq Inc. plans to offer futures in 2018, according to a person familiar with the matter. Cantor Exchange of Cantor Fitzgerald LP is creating a bitcoin derivative, and the startup LedgerX already offers options.