Photo: Benoit Tessier/ReutersHong Kong: Bitcoin surged to a two-year high amid expectations supply of the digital currency will shrink next month. The cryptocurrency rallied to $696.5 on Monday in Hong Kong, the highest since February 2014, according to data compiled by Bloomberg. It was trading at $689.23 as of 3:50 pm in Hong Kong, up 19% from Friday. Profits from mining bitcoins will be reduced in July, a process that’s written into the code to limit supply, according to Chinese exchanges OKCoin and Huobi. “The halving of the supply of Bitcoin is attracting many retail investors,” Liu said.

Source: Mint June 13, 2016 09:11 UTC