Bitcoin surges past $7,000

Bitcoin climbed past $7,000 for the first time, breaching another milestone less than one month after it tore through the $5,000 mark.

Spot pricing for bitcoin climbed as much as 7.1% to a high of $7,045.46 before pulling back slightly to $6,968.25 at 7:45 a.m. in London.

The cryptocurrency is up as much as 640% this year and is now worth more than $100 billion.

The digital currency got new impetus this week after CME Group Inc, the world’s largest exchange owner, said it plans to introduce bitcoin futures by the end of the year, citing pent-up demand from clients. The move will give the software-created asset some regulatory cover that is expected to attract more buyers.

Read: Bitcoin just hit R100,000 in South Africa

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Bitcoin surges past $7,000