Bitcoin Rallies to All-Time High, Options Exchange Increases


Bitcoin surpassed the $2,100-level for the first time to hit a fresh new high, as a monster rally continues amid upbeat noises around the future of the cryptocurrency, and as Ledger Holdings, the New York-based parent company of bitcoin options exchange LedgerX, said it raised $11.4 million in funding on Monday.

The cryptocurrency giant surged to a daily peak of $2,105.00 on the New York-based itBit exchange at one point, its highest on record. It was last at $2,100.00 by 4:10 AM ET, up about 5% on the day. Currently, Bitcoins are trading at $2,148.58 that totally puts the market cap at $35.11 billion. The total supply of Bitcoins currently sits at 16,343,288.

At the end of April, Bitcoin was trading for about $1,300 per coin. In just three weeks, the valuation has climbed by about 50%, as Bitcoin surpassed the $2,000 mark this week. About 12% of that significant gain was in the past week alone.

Since the start of the year, the price of bitcoin has soared 116%, taking the total value of the cryptocurrency in flow to more than $37.5 billion.

Bitcoin first broke the $1,000 barrier in November 2013 but slipped significantly shortly after. It wasn’t until early this year that its value returned to the $1,000 range.

Meanwhile, the parent company of bitcoin options exchange operator LedgerX closed $11.4 million in funding led by  Miami International Holdings Inc and Huiyin Blockchain Venture Investments that supports LedgerX’s plan to operate a regulated exchange and clearing house for bitcoin and other digital currencies.

LedgerX is awaiting regulatory approval from the Commodity Futures Trading Commission to operate the first U.S. regulated exchange and clearing house for bitcoin options. On approval, participating institutions can use the LedgerX platform to obtain and hedge bitcoin using exchange-traded and centrally cleared options contracts.

“In the short term, these investments will further our application to become a regulated exchange and clearing house for bitcoin options,” Paul Chou, chief executive officer of LedgerX LLC, said in a statement.

“In the long term, these strategic investors will help us enter additional marketplaces and territories,” he added.

Bitcoin, a virtual currency that can be moved like money around the world quickly and anonymously without the need for a central authority, can be used to purchase goods and services from stores and online retailers.

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