Bitcoin posts a new all-time high

Bitcoin posts new record high above $6,330 on Tuesday.
Price jumps after exchange group CME announces the launch of bitcoin futures.

Bitcoin has jumped to a new record high on Tuesday after futures exchange operator CME announced plans to launch bitcoin futures.

CME announced plans to launch the new futures contracts in the fourth quarter "pending all relevant regulatory review periods." CEO Terry Duffy said the move was motivated by "increasing client interest in the evolving cryptocurrency markets."

Bitcoin popped against the dollar on the news. The cryptocurrency is up over 3% to $6,337.29 at 2.10 p.m. GMT (10.10 a.m. ET) — passing the record high of $6,306 reached on Sunday evening.

bitcoin

Bitcoin has been on an absolute tear in 2017, rising over 500% against the dollar so far 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, many of them focusing on bitcoin.

Last week, renown Silicon Valley investor Peter Thiel said people are "underestimating bitcoin."

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