Bitcoin reached a new historic high of $ 6,450 mainly due to plans of the CME Group to launch by the end of 2017 trading futures for bitcoins.
Many analysts, including Jamie Mac Giver of Reuters and Nick Baker of Bloomberg, have linked the recent growth of bitcoin to this event.
The CME Group is the largest option exchange in the world, with annual revenue of $ 3.6 billion and controlling assets of $ 69 billion.
Integration with bitcoin will bring this crypto currency and the entire market to a new level of trading within the traditional financial sector.
Investors and highly professional traders who previously could not invest directly in bitcoin will be able to invest through tightly regulated channels, such as the CME futures exchange.
As billionaire hedge fund investor Mike Novogratz noted, a “herd” of institutional investors are already preparing to invest in bitcoin and the cryptocurrency market.
“I can hear the herd coming. I was just in San Francisco, met with a few big institutional investors and their still a ways away but they’re coming.
Lots of funds are being raised and so I’m pretty confident to say that it [Bitcoin price] is going higher,” said Novogratz.
Several analysts believe that bitcoin will reach $ 7,000 over the next few days and $ 10,000 by the end of 2017, or in early 2018.