Bitcoin climbed above $60,000 yesterday after Wall Street’s watchdog approved the listing of America’s largest digital currency exchange.
A bullish note from analysts at JP Morgan also boosted sentiment, helping the cryptocurrency to climb as high as $60,103.04, a gain of 2.3 per cent, or $1,374.51, from Thursday’s close of $58,728.53. Its record high, set last month, was $61,080.
Bitcoin, the world’s most widely known digital currency, exists only as computer code and has no physical form. It was launched in 2009 by a pseudonymous figure known as Satoshi Nakamoto, at which point its value was next to zero.
Last year, bitcoin nearly quadrupled in value as a new wave of private investors bought into the digital currency boom. Notable institutional investors also have been