Coinbase, the largest US based Bitcoin exchange added more than 100,000 customers within a single day following the Bitcoin futures announcement by CME. Alistair Milne, the chief investment officer and co-founder of Altana Digital Currency Fund revealed that the user hike in Coinbase’s exchange traded platform occurred as a direct result of CME’s announcement on Tuesday to launch Bitcoin futures by year end. Once the launch becomes a reality, investors who had been facing difficulty in directly affecting the purchase can move forward with the same.
This announcement also sky rocketed the price of Bitcoin to record heights. Coinbase website reveals the platform to have 11.9 million users who rushed to open new accounts for engaging in Bitcoin transactions following the big bomb dropped by CME- the world’s largest futures exchange platform. Bitcoin hit a records high figure of $7,454.04 on Friday. Started from being the core focus of just a small group of enthusiasts, Bitcoin surely has come a long way. It has given rise to an entire industry centered around its mining, offering bitcoin trading services and selling digital mining equipment. Founded way back in 2012, Coinbase has itself raised a mammoth corpus of $217 million from its investors which include the likes of Andreessen Horowitz, USAA and Union Square Ventures as per CrunchBase.
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