Great news for traders of cryptocurrencies who have previously invested in Bitcoin - the digital currency reached record highs earlier today at $7,089.80.
Considering that Bitcoin started 2017 near the $1000 mark and has been growing steadily, these recent incredible gains indicate an astonishing growth of almost 700% this year alone. Currently the financial markets contain about $119 billion worth of Bitcoin.
The remarkable growth of Bitcoin in the past months can be attributed to recent statements by the CME group (under the Commodity Futures Trading Commission) that cryptocurrencies such as Bitcoin (and not only) can be treated like regular securities. The CME is currently in the process of obtaining the proper financial regulations to start offering futures on Bitcoin.
If trading cryptocurrency futures becomes a common thing on the stock market, then that would legitimize the digital currencies which have had reputation struggles in the past.
