• By The Financial District

Bitcoin Value Zooms To $66,000

Bitcoin jumped to a record high mid-week, topping $66,000, as it rides a wave of excitement about getting further mainstreamed by the financial establishment, the Associated Press (AP) reported.


Photo Insert: "To Bitcoin or not to Bitcoin?" That is the question. Investors seem to think the cryptocurrency will be mainstreamed soon and it showed in recent trading.



Bitcoin was trading at $66,109 as of 10:04 a.m. Eastern time. It has rallied back after sinking below $30,000 during the summer to top its prior record set in April. That prior all-time high was nearly $64,889, according to Coindesk.


A day earlier, the first exchange-traded fund linked to Bitcoin attracted huge interest from investors looking to get into the surging field of cryptocurrencies.



Shares of the ProShares BitCoin Strategy Exchange Traded Funds (ETF) changed hands 24.1 million in a resounding debut.


The ETF doesn’t invest directly in Bitcoin. It instead invests in the futures market tied to Bitcoin, but the industry sees the ETF as offering a way for a new class of investors to get involved in Bitcoin.



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