Bitcoin soars to record high of $15,000

Bitcoin is seen next to the dollar — (Image credit: ROSLAN RAHMAN/AFP/Getty Images)

Bitcoin continued its meteoric rise on Thursday, passing $15,000 to hit a new record high after rising 20 percent in 24 hours. The cryptocurrency reached $12,000 for the first time Tuesday, and started the year under $1,000. It gained steadily then took off recently on the news that Chicago-based Cboe Global Markets plans to launch bitcoin futures on Sunday, to be followed the next week by the world's largest futures exchange, CME. The sale of bitcoin futures by two respected exchanges suggests the digital currency is gaining mainstream acceptance, although skeptics still warn it is a classic example of a bubble ready to burst.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Explore More

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.