Bitcoin is climbing

Bitcoin up 4.5% on Wednesday morning.
Around $150 off all-time highs.

LONDON — Digital currency bitcoin is rising on Wednesday, climbing close to record levels.

Bitcoin is up 4.5% to $7.465.39 at 11.50 a.m. GMT (7.50 a.m. ET): bitcoin

The rally puts bitcoin around $150 away from its all-time high of $7.609.29, a record set on Sunday.

Bitcoin has been on a tear in recent weeks, with the price rallying ahead of a planned "fork" in the underlying code of the cryptocurrency next week. The SegWit2x fork, which you can find out more about here, could split the currency in two.

The recent run has also been helped by news that CME Group, the world's largest exchange operator, plans to introduce bitcoin future contracts in response to client demand. This is seen as a stamp of legitimacy from the world of traditional finance for bitcoin.

Bitcoin has had a great 2017, rising by over 600% against the dollar this year. The price rise has been driven by increasing mainstream adoption and awareness of bitcoin and cryptocurrencies more generally. At least 55 cryptocurrency hedge funds have sprung up this year, most focusing on bitcoin.

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