Bitcoin takes a big stride away from fringes of finance

[Nadilapars]

CME Group’s announcement on Tuesday (October 31) that it intends to offer futures on Bitcoin this month sent the cryptocurrency surging past $6,400 for the first time; the group’s move has been viewed as bringing Bitcoin a step closer to acceptance within mainstream finance by placing it alongside the CME’s stable of futures on interest rates, stock indices, commodities and currencies. 

Bitcoin’s price has soared from $966 at the start of the year, breaking through the $5,000 mark for the first time on October 11 before settling at $6,362.65 in afternoon trading on October 31, up by 4% for the day. 

 

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