|
Cryptocompare, a data website that analyses bitcoin trading
across dozens of exchanges globally, said around 50 percent of
trading volume over the past 24 hours had been on the bitcoin/Japanese
yen exchange rate.
"The Japanese have recently warmed their approach towards
bitcoin by treating it legally as a form of payment - a
ratification and bringing into the regulatory fold," said
Charles Hayter, the website's founder.
"China's clampdown on exchanges can also be seen as a positive
move for the industry too," he added.
Chinese authorities have increased scrutiny of exchanges this
year and have forced them to start charging trading fees, after
becoming concerned about bitcoin speculation and its potential
use in money laundering.
Bitcoin surged as much as 3 percent on Tuesday on the
Europe-based Bitstamp exchange, where trading is
dollar-denominated, to hit $1,437, its highest since its 2008
launch. That marked a more than 200 percent increase from its
price in early May last year.
Its current levels put the total value of all bitcoins in
circulation - the so-called "market cap" - close to $25 billion,
putting its worth on a par with a large-cap company.
Bitcoin analysts said the price had also been boosted by a
request by the BATS exchange that the U.S. Securities and
Exchange Commission review its March decision not to approve a
bitcoin-tracking ETF set up by the Winklevoss brothers.
(Reporting by Jemima Kelly, editing by Nigel Stephenson)
[© 2017 Thomson Reuters. All rights
reserved.] Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
