Singapore, Nov 29 (AFP) Bitcoin broke through the USD 10,000 barrier for the first time today as it continues a stratospheric rise that has delighted investors but sparked fears of a bubble. The virtual currency has attracted as much anger as praise, however, with the boss of JP Morgan Chase labelling it a fraud and governments, while China and South Korea have expressed concerns. Hundreds of other digital currencies have been created since its launch, but Bitcoin remains by far the most popular. In one of the most high-profile, major Tokyo-based Bitcoin exchange MtGox collapsed in 2014 after admitting that 850,000 coins -- worth around USD 480 million at the time -- had disappeared from its vaults. While analysts expect the currency to suffer falls, they expect it will prosper in the long term and see the CME launch as the next big test.

Source: Economic Times November 29, 2017 05:26 UTC