Bitcoin price surge has been accompanied by a growing chorus of warnings that the speculative frenzy is an asset bubble poised to burst. Photo: ReutersNew York: Bitcoin surpassed $12,000 for the first time amid speculation that the widespread use of futures will help lead to digital currencies being viewed as a legitimate asset class for mainstream investors. The price surge has been accompanied by a growing chorus of warnings that the speculative frenzy is an asset bubble poised to burst. Cboe Global Markets Inc. has said it will start trading bitcoin futures on 10 December, while CME Group Inc.’s contracts are set to debut on 18 December. Cantor Fitzgerald LP’s Cantor Exchange is creating a bitcoin derivative, and startup LedgerX already offers options.

Source: Mint December 06, 2017 03:56 UTC