Bitcoin reaches USD16,000

Bitcoin started the year at under USD1,000 has now reached sixteen times that, having gained 50 per cent in a week.

In part this is due to the expectation of Bitcoin futures launching on two exchanges, CME and CBOE Global Markets.

It raised the prospect of a bubble about to burst, but there is no prediction as to when, or whether, it will deflate or explode.

Approximately 16.5 million Bitcoins are now in circulation from a maximum limit of 21 million.

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