![\"Bitcoin](\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2017\/11\/Bitcoin-7000-graph.png\")
<\/a><\/p>\nBitcoin climbed past $7,000 for the first time, breaching another milestone less than one month after it tore through the $5,000 mark.<\/p>\n
Spot pricing for bitcoin climbed as much as 7.1 percent to a high of $7,045.46 before pulling back slightly to $6,977.40 at 9:27 a.m. in London. The cryptocurrency is up as much as 640 percent this year and is now worth more than $100 billion.<\/p>\n
The digital currency got new impetus this week after CME Group Inc., the world\u2019s largest exchange owner, said it plans to introduce bitcoin futures by the end of the year, citing pent-up demand from clients. Sceptics including Themis Trading say the rally is evidence that the software-created asset is a bubble that should not be given regulatory cover.<\/p>\n
\u201cIt is simply remarkable how resilient bitcoin has been in the face of significant negativity,\u201d said Lukman Otunuga, a research analyst at ForexTime, in a Nov. 1 note to clients. \u201cThe price action suggests that bulls have a very firm grip.\u201d<\/p>\n
In a blog post this week, Themis warned CME is \u201ccaving in\u201d to pressure from clients and placing a seal of approval around a \u201cvery risky, unregulated instrument that has a history of fraud and manipulation.\u201d The products planned by CME \u201cremind us of the collateralized debt obligations which were peddled during the financial crisis,\u201d the post said.<\/p>\n
Asked whether he\u2019s concerned about a potential bubble, CME Chief Executive Officer Terry Duffy said on Bloomberg TV on Nov. 1 that the firm\u2019s job is to \u201cmanage risk, not decide what the price of a product is.\u201d<\/p>\n
Bitcoin climbed past $7,000 for the first time.<\/p>\n","protected":false},"author":341034,"featured_media":224650,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[44696],"tags":[47072,187,47074],"class_list":["post-235874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-47072","tag-bitcoin","tag-cryptocurrency-growth"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/235874"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=235874"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/235874\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/224650"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=235874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=235874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=235874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/a><\/p>\nNow read:\u00a0Bitcoin reaches R100,000<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"