Bitcoin cost hits $6,0 to fresh record high after CME futures plan

A visual representation of the digital Cryptocurrency, Bitcoin on October 24, 2017 in London, England.

Dan Kitwood | Getty Images

A visual representation of the digital Cryptocurrency, Bitcoin on October 24, 2017 in London, England.

Bitcoin surpassed $6,500 in addition to also $6,0 on Wednesday to hit a fresh record high after the CME announced plans to launch bitcoin futures later This particular year.

The cost of the cryptocurrency hit a high of $6,0.84 just hours after breaking through the $6,400 barrier, in addition to also minute after moving past the $6,500 mark, according to data coming from industry website CoinDesk. Its market capitalization, or the total value of bitcoin in circulation, hit $110 billion.

On Tuesday, U.S.-based exchange CME said This particular might introduce bitcoin futures contracts This particular quarter, subject to regulatory approval.

“We’ve been working with the regulator. They understand our application. in addition to also they understand our product very, very well,” Terry Duffy, CME Group chairman in addition to also CEO, told CNBC.

The introduction of such a product could bring more institutional investors into the market. This particular’s believed which This particular is usually helping to boost the cost.

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