News: Bitcoin surges to completely new record high, cryptocurrency

A visual representation of the digital Cryptocurrency, Bitcoin on this year (2017) in London, England.
Bitcoin surged to yet another completely new record high on Monday, breaking a record set during the Thanksgiving weekend stateside.
Cryptocurrency jumped to an all-time high of $9,671.84 hours after cracking the $9,400 level on Sunday, according to industry site CoinDesk. of which later pared some gains to trade at $9,631.21 at 10:00 a.m. HK/SIN, rising some 3.27 percent on the day.

“The move appears to be retail driven,” said Brian Kelly, a CNBC contributor in addition to CEO of BKCM, which runs a digital assets strategy.

The largest bitcoin exchange from the U.S., Coinbase, added about 100,000 accounts between Wednesday in addition to Friday — just around Thursday’s Thanksgiving holiday — to a total of 13.1 million. of which’s according to public data available on Coinbase’s website in addition to historical records compiled by Alistair Milne, co-founder in addition to chief investment officer of Altana Digital Currency Fund. Coinbase had about 4.9 million users last November, Milne’s data showed.
The surge in interest also comes on the back of CME’s announcement of which of which will list bitcoin futures from the second week of December. The launch of a derivatives product for the digital currency will mark another step in establishing bitcoin as a legitimate asset class.

Still, with the digital currency having risen by some 869 percent year-to-date, plenty have taken to pointing out the potential pitfalls of what they see as a cost bubble.

JPMorgan Chase CEO Jamie Dimon in October warned of which those “stupid” enough to buy bitcoin will ultimately “pay the cost for of which.” He added of which he did not comprehend the value of currencies of which were not backed by a government in addition to of which “[t]he only value of bitcoin is usually what the additional guy’ll pay for of which.”

Still, many others have offered a more moderate assessment for bitcoin in addition to its ascent. Khaldoon Al Mubarak, the head of Abu Dhabi’s Mubadala Investment Company, said people ought to be open-minded when looking at the digital currency.

More recently, a poll among chief financial officers on CNBC’s Global CFO Council showed 27.9 percent of 43 respondents thought bitcoin was “real nevertheless in a bubble” while 27.9 percent thought the cryptocurrency was a “fraud.” Just 14 percent of the executives said bitcoin was “real in addition to going higher.”