Bitcoin extended its rally continued apace today, breaking above $12,000 to a record high despite concerns about the cryptocurrency’s real value and fears of a dangerous bubble.
Bitcoin received a boost last week after the main US derivatives regulator that it would allow CME Group and CBOE Global Markets to list bitcoin futures contracts.
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 the new asset class, Reuters reports.
Bitcoin’s meteoric ascent of over 10-fold from below $1,000 at the start of the year has drawn regulatory scrutiny around the world.
High-profile critics such as Nobel Prize-winning economist Joseph Stiglitz have said the cryptocurrency should be outlawed.