{"id":208367,"date":"2017-11-01T10:09:54","date_gmt":"2017-11-01T08:09:54","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=208367"},"modified":"2017-11-01T10:09:54","modified_gmt":"2017-11-01T08:09:54","slug":"bitcoin-just-hit-r100000-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/208367\/bitcoin-just-hit-r100000-in-south-africa\/","title":{"rendered":"Bitcoin just hit R100,000 in South Africa"},"content":{"rendered":"

Cryptocurrency Bitcoin has broke through R100,000 per coin in South Africa, according to Bitcoin exchange, Luno<\/a><\/strong>.<\/p>\n

On Wednesday morning the price of a single Bitcoin in rands was at R100,036, hitting a new all-time high on news that the speculative trading currency would be ‘going legit<\/a><\/strong>‘.<\/p>\n

The purely digital coin is taking a step into the mainstream of finance, with CME Group Inc announcing that it will introduce trading in Bitcoin futures by the end of 2017.<\/p>\n

The announcement, which came on Wednesday, sent Bitcoin rallying to $6,400 per coin –\u00a0up more than 550% this year.<\/p>\n

\"\"<\/a><\/p>\n

“Legitimate” finance houses have been very cautious around Bitcoin, with JPMorgan Chase CEO\u00a0Jamie Dimon being the most outspoken, calling the cryptocurrency a fraud.<\/p>\n

However, many others have expressed interest in getting involved with the Bitcoin market in some way.<\/p>\n

With CME’s move – which still needs regulatory approval – the futures will open up ways for traders and investors to better short Bitcoin, and bet on declines.<\/p>\n

Other groups that are ‘legitimising’ Bitcoin include\u00a0startup, LedgerX, which is trading Bitcoin swaps and options, and Cboe Global Markets Inc, which also plans to introduce Bitcoin futures in 2018.<\/p>\n

Late October, Bitcoin’s market cap surpassed $100 billion, shrugging off a clamp-down on cryptocurrency trading in China earlier in the year.<\/p>\n

More than $3 billion has poured into other initial coin offerings this year despite warnings from the US Securities and Exchange Commission and other government watchdogs.<\/p>\n

\n

Read:Bitcoin market cap tops $100 billion<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency Bitcoin has broke through R100,000 per coin in South Africa, according to Bitcoin exchange, Luno.<\/p>\n","protected":false},"author":10,"featured_media":194070,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[],"class_list":["post-208367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/208367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=208367"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/208367\/revisions"}],"predecessor-version":[{"id":208375,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/208367\/revisions\/208375"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/194070"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=208367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=208367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=208367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}