A wild rally across the cryptocurrency sector is being powered by soaring equity markets, social media, marketing expenditure and a brewing consensus that blockchain technologies will revolutionise finance, according to local stakeholders.
Bitcoin fetched $U63,991 ($98,290) a coin on Wednesday after topping $100,000 for the first time in history. It crowns a 51 per cent jump this year after US regulators approved the cryptocurrency’s adoption in funds traded on traditional stock exchanges.
Loading...
Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
