The price of one full Bitcoin (BTC), the original decentralized digital currency, officially hit 10,000 U.S. dollars early Tuesday morning, according to data from CoinMarketCap.
The blockchain “coin” began its latest rally after Black Friday, hitting an all-time high of $9,000 on Saturday, November 25, only to surge past 10k only three days later.
Soon after, the price dipped down to around $9900. At the time of this writing, BTC has risen back to $10499.00.
Why so high?
There are several likely reasons for this massive price surge.
First, a host of big financial players recently announced they will get in on the action. Most prominently, CME Group, the largest futures exchange in the United States, has signaled that it will allow BTC futures trading as early as mid-December. While it bodes well that many traditional investors may make the jump to digital currencies, a considerable number of them seem poised for a big short. The current price spike may indicate a buying frenzy to get in ahead of the short.