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Bitcoin surges above Sh1.2 million to record high on relentless demand

Bitcoin’s meteoric ascent of over 10-fold from below Sh100,000 ($1,000) at the start of the year has drawn regulatory scrutiny around the world. FILE PHOTO | NMG

By  REUTERS

Bitcoin extended its eye-popping rally on Wednesday, breaking above Sh1.2 million ($12,000) to a record high despite questions about the cryptocurrency’s real value and worries about a dangerous bubble.

Bitcoin received a boost after Friday’s announcement by the main US derivatives regulator that it would allow CME Group Inc and CBOE Global Markets to list bitcoin futures contracts.

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