There is no stopping Bitcoin, hits new record

By Jeff Davies
Retail Crowd

The price of bitcoin continued to soar on Wednesday, hitting a new record at $12,470, just hours after breaking the $12,000 mark. The world’s most popular digital currency has been on a roll in recent weeks, surging nearly 80% in value in the last 30 days, while its value increased well over 1000% since the beginning of the year.

Bitcoin’s latest ascent comes amid news that Mexico’s Senate approved a bill regulating financial technology activities, including cryptocurrencies. The bill entitled the “Law Regulating the Financial Technology Institutions” will now proceed to the lower chamber of the Mexican Congress for a final vote. In the United States, the Chicago Mercantile Exchange readies itself for the launch of bitcoin futures contracts later this month, while Nasdaq Inc. announced similar plans for next year.

Bitcoin traded 7.19% higher at $12,411 at 9:46 am GMT.