Bitcoin has reached its highest level since May 2018, exceeding $9,000, driven by reports that Facebook Inc. will launch a digital currency. The news boosted optimism that crypto currencies were more adopted by the mainstream financial circles.
Bitcoin, the market’s highest crypto currency, rose 9.4 percent since late Friday and traded at $9,215 at 09:30 London time. Competitor digital coins also climbed, with Litecoin gaining 5 per cent, while Ethereum rose 5.5 per cent.
Stocks linked to crypto currencies gained value in Asia. Remixpoint Inc. rose 6 percent. Monex Group Inc. and Ceres Inc. Tokyo finished the session with an increase of over 2 percent. The Vidente Co. listed in Seoul climbed 2.7 per cent.
“The simple truth is that money found its way to Bitcoin at a time when people were looking for some sort of safe harbor or hedge, Br said Brett McGonegal, CEO of Capital Link International, in an interview with Bloomberg Television. In the case of crypto money “will go much higher,” he added.
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