{"id":258841,"date":"2018-07-16T15:41:11","date_gmt":"2018-07-16T13:41:11","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=258841"},"modified":"2018-07-16T15:41:11","modified_gmt":"2018-07-16T13:41:11","slug":"bitcoin-set-for-biggest-gain-in-two-weeks","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/258841\/bitcoin-set-for-biggest-gain-in-two-weeks\/","title":{"rendered":"Bitcoin set for biggest gain in two weeks"},"content":{"rendered":"
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Bitcoin headed for its largest increase in two weeks on Monday, as major cryptocurrencies kicked off the week with a broad rally.<\/p>\n

Amid a steady drip of news reports suggesting some of the biggest names in investing are taking more of an interest in digital tokens, the largest crypto-coin advanced 6.8% to $6,606.18 as of 9:03 a.m. in New York, according to composite prices on Bloomberg. Rival coins Ripple, Ethereum and Litecoin all climbed at least 5%.<\/p>\n

Bitcoin hasn\u2019t notched a one-day gain of more than 2% since July 2.<\/p>\n

Last week, billionaire investor Steven Cohen was said to have put money into a hedge fund focusing on cryptocurrencies and blockchain-based companies.<\/p>\n

In Europe, the owner of Switzerland\u2019s securities exchange in Zurich said it\u2019s creating a platform for trading digital assets. Most recently, London\u2019s Financial News reported that a BlackRock Inc team looking into how the world\u2019s largest asset manager can take advantage of the cryptocurrency market and blockchain is studying whether to take an active role in Bitcoin futures.<\/p>\n

A BlackRock spokeswoman declined to comment on what the team\u2019s current focus is.<\/p>\n

\u201cAs I have said in the past, we\u2019re very excited about blockchain technology,\u201d Larry Fink, chairman and chief executive officer at BlackRock, told Bloomberg TV\u2019s Erik Schatzker.<\/p>\n

But while the firm is studying cryptocurrencies to see how they\u2019re performing, no clients have yet sought to buy one, he said.<\/p>\n

“When it becomes more legitimatized, when it has a true open nature of it that you can identify who the players are on both sides, that\u2019s when we\u2019ll probably look at it,” he said.<\/p>\n

Elsewhere the CFA Institute, whose grueling three-level program has helped train more than 150,000 financial professionals, is adding topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time next year. The move may be another example of the crypto industry\u2019s gradual shift into the world of mainstream finance.<\/p>\n

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

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Read: How many South Africans still think Bitcoin is a bad idea \u2013 and those that wish they had invested<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin headed for its largest increase in two weeks on Monday, as major cryptocurrencies kicked off the week with a broad rally.<\/p>\n","protected":false},"author":59,"featured_media":53022,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[5537,26],"class_list":["post-258841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bitcoin","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/258841","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\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=258841"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/258841\/revisions"}],"predecessor-version":[{"id":258845,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/258841\/revisions\/258845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/53022"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=258841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=258841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=258841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}