Bitcoin soars above $19000, boosting worries and a worldwide frenzy

08 December, 2017, 13:23 | Author: Regina Silva
  • Illustration by Alex Castro  The Verge

NY time Wednesday, bitcoin jumped past $15,000, and the day's wild ride began.

Earlier this week Bitcoin's price entered a phase of rapid growth, starting at about $11,000 on Monday and hitting the $15,000 mark early on Thursday.

The dollar was slightly higher on Thursday afternoon, mostly unchanged against the euro but gaining 0.20 percent against the yen to trade at 112.51.

"Bitcoin as a digital currency is not quite there yet", the AME Cloud Ventures head told CNBC on the sidelines of the Fortune Global Forum in China.

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Goldman Sachs, one of the nation biggest investment banks, said it will allow only a limited number of clients to trade the CBOE's bitcoin futures. This person requested anonymity because the decision hasn't yet been disclosed publicly.

Thomas Peterffy, chairman of the broker-dealer Interactive Brokers Group, expressed deep concerns about the trading of bitcoin futures last month, saying "there is no fundamental basis for valuation of Bitcoin and other cryptocurrencies, and they may assume any price from one day to the next". In addition, experts now believe that the United States market is not ready to deal with bitcoin options and futures yet.

Bitcoin is notching new heights every couple of days.

However, while companies like Overstock, Microsoft, and Starbucks offer customers the option to pay for products and services in Bitcoin, the cryptocurrency is increasingly being treated more as a store of value and less as a transaction currency. This week the currency rose with nearly 40%, exciting common people and speculators and worrying governments and central banks around the world. Some say they serve merely to facilitate money laundering and illicit, anonymous payments.

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