Bitcoin surged to yet another new record high on Monday, breaking a record set during the Thanksgiving weekend stateside.
The cryptocurrency jumped to an all-time high of $9,671.
84 hours after cracking the $9,400 level on Sunday, according to industry site CoinDesk.
It later pared some gains to trade at $9,631.
HK/SIN, rising some 3.
27 percent on the day.
"The move appears to be retail driven," said Brian Kelly, a CNBC contributor and CEO of BKCM, which runs a digital assets strategy.
The largest bitcoin exchange in the U.
, Coinbase, added about 100,000 accounts between Wednesday and Friday — just around Thursday`s Thanksgiving holiday — to a total of 13.
That`s according to public data available on Coinbase`s website and historical records compiled by Alistair Milne, co-founder and chief investment officer of Altana Digital Currency Fund.
Coinbase had about 4.
9 million users last November, Milne`s data showed.
The surge in interest also comes on the back of CME`s announcement that it will list bitcoin futures in the second week of December.
The launch of a derivatives product for the digital currency will mark another step in establishing bitcoin as a legitimate asset class.
Still, with the digital currency having risen by some 869 percent year-to-date, plenty have taken to pointing out the potential pitfalls of what they see as a price bubble.
JPMorgan Chase CEO Jamie Dimon in October warned that those "stupid" enough to buy bitcoin will ultimately "pay the price for it.
" He added that he did not comprehend the value of currencies that were not backed by a government and that "[t]he only value of bitcoin is what the other guy`ll pay for it.
" Still, many others have offered a more moderate assessment for bitcoin and its ascent.
Khaldoon Al Mubarak, the head of Abu Dhabi`s Mubadala Investment Company, said people ought to be open-minded when looking at the digital currency.
More recently, a poll among chief financial officers on CNBC`s Global CFO Council showed 27.
9 percent of 43 respondents thought bitcoin was "real but in a bubble" while 27.
9 percent thought the cryptocurrency was a "fraud.
" Just 14 percent of the executives said bitcoin was "real and going higher.
" — CNBC`s Arjun Kharpal contributed to this report.
The cryptocurrency jumped to an all-time high of $9,671.
84 hours after cracking the $9,400 level on Sunday, according to industry site CoinDesk.
It later pared some gains to trade at $9,631.
HK/SIN, rising some 3.
27 percent on the day.
"The move appears to be retail driven," said Brian Kelly, a CNBC contributor and CEO of BKCM, which runs a digital assets strategy.
The largest bitcoin exchange in the U.
, Coinbase, added about 100,000 accounts between Wednesday and Friday — just around Thursday`s Thanksgiving holiday — to a total of 13.
That`s according to public data available on Coinbase`s website and historical records compiled by Alistair Milne, co-founder and chief investment officer of Altana Digital Currency Fund.
Coinbase had about 4.
9 million users last November, Milne`s data showed.
The surge in interest also comes on the back of CME`s announcement that it will list bitcoin futures in the second week of December.
The launch of a derivatives product for the digital currency will mark another step in establishing bitcoin as a legitimate asset class.
Still, with the digital currency having risen by some 869 percent year-to-date, plenty have taken to pointing out the potential pitfalls of what they see as a price bubble.
JPMorgan Chase CEO Jamie Dimon in October warned that those "stupid" enough to buy bitcoin will ultimately "pay the price for it.
" He added that he did not comprehend the value of currencies that were not backed by a government and that "[t]he only value of bitcoin is what the other guy`ll pay for it.
" Still, many others have offered a more moderate assessment for bitcoin and its ascent.
Khaldoon Al Mubarak, the head of Abu Dhabi`s Mubadala Investment Company, said people ought to be open-minded when looking at the digital currency.
More recently, a poll among chief financial officers on CNBC`s Global CFO Council showed 27.
9 percent of 43 respondents thought bitcoin was "real but in a bubble" while 27.
9 percent thought the cryptocurrency was a "fraud.
" Just 14 percent of the executives said bitcoin was "real and going higher.
" — CNBC`s Arjun Kharpal contributed to this report.
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