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Popular cryptocurrency Bitcoin on Thursday soared to a record high, surpassing $15,000, continuing its surge from below $1,000 at the beginning of this year. The surge was seen ahead of the launch of Bitcoin futures on Chicago-based CBOE coming Sunday.
The move opens the door to added regulation but also more mainstream adoption, as Bitcoin futures and other derivatives would make it easier to trade in the new asset class.
The cryptocurrency had hit a high of $15,340 per unit and a low of $12,662.86, as of 11 am IST, according to coingecko.com. Bitcoin’s ascent of over 10 times from below $1,000 at the start of the year has drawn regulatory scrutiny around the world, but some high-profile economists and individuals like Nobel Prize-winning Joseph Stiglitz have batted for the cryptocurrency to be outlawed.
Meanwhile, the Reserve Bank of India (RBI) on Tuesday also cautioned "users, holders and traders" of Bitcoins about security-related risks associated in dealing with such virtual currencies (VCs).