Bitcoin surged above $60,000 today after US regulators approved the stock market listing of Coinbase, the largest US cryptocurrency exchange.
The landmark decision from the Securities and Exchange Commission (SEC) is a major boon to the legitimacy of cryptocurrencies and helped Bitcoin edge closer to its all-time high of over $61,000 achieved last month.
Bitcoin rose by more than 2 per cent to $60,103 this morning, from Thursday’s close of $58,728, before settling back at around $59,000 in afternoon trading on Friday.
Last night, Coinbase – which made a regulatory filing to go public in February – said that the SEC had approved its application to list in New York.
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The company, which has been valued privately at around $68billion, expects its shares to start trading on the Nasdaq on 14 April.
It plans to go public through a ‘direct’ listing rather than an initial public offering, or IPO.
Read more: Daily Mail