Cryptocurrencies' Market Cap Hits Record $200B as Bitcoin Soars

Bitcoin Blasts Price Rise

The digital currency hit a new all-time high of Dollars 7,067.54 on Thursday, as per CoinDesk's Bitcoin Price Index valuing it at USD 118 billion.

Bitcoin is surging on Thursday morning, shooting past $7,000 per coin on Thursday morning for the first time ever.

It hit as high as $7,354.10 on the Luxembourg-based Bitstamp exchange on Thursday, before settling back to $7,030 by 4:30 p.m., still up over 4 percent on the day.

"CME and similar Futures offerings for the traditional financial industry will make it possible for these institutional investors and funds to take positions within the bitcoin and later general cryptocurrency ecosystem, while complying with their existing counterparty and regulatory requirements".

The bullish activity that followed CME's announcement also saw the total value of all cryptocurrencies surge past $200 billion for the first time.

David Miller Smashes Fastest T20I Ton Off Just 35 Balls
Bangladesh was 141 all out in 18.3 overs, another heavy defeat on a hard five-week tour for the visiting team. KL Rahul was just one ball behind as the batsman reached the historic ton in just 46 balls.

Bitcoin price bulldozed its way to a new all-time high of $7,447 during trading on Friday.

The futures contract will be based on the CME CF Bitcoin Reference Rate (BRR) that the firm launched in November of past year in partnership with Crypto Facilities.

Bitcoin's latest rally continues its volatile trajectory as the value of the world's foremost cryptocurrency struck a fresh high on Friday.

Meanwhile, Credit Suisse chief executive Tidjane Thiam called for caution about the booming cryptocurrency, saying the current interest in it could eventually subside.

"The move by such a well-known, established exchange throws open the doors for institutions to get into bitcoin, " said analyst Arnaud Masset at Swissquote, a brokerage that offers bitcoin trading to retail clients, Reuters reported.

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