News & Press: Industry Related

Cryptocurrency - Bitcoin near $10K -- now seven times more valuable than gold

Wednesday, November 29, 2017  
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The virtual currency bitcoin hit a new high of $9,700 on Monday -- making it worth seven times more than an ounce of gold.  After starting the year with a value of just $1,000, the currency's value has skyrocketed 860 percent this year. Its value was listed at $8,000 just last week.

The latest gains could be fueled by expectations of big investors, such as hedge funds and asset managers, pouring money into the currency.

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Beginning next month, the cryptocurrency will gain even more legitimacy in the financial industry as investors will be able to trade bitcoin futures via the Chicago Mercantile Exchange.  Read more...


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