Bitcoin has touched a new life time high of $7450 after the news came out from CME Group, the world’s leading and most diverse derivatives marketplace, that it intends to launch bitcoin futures in the fourth quarter of 2017, pending all relevant regulatory review periods.

The new contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin.  Bitcoin futures will be listed on and subject to the rules of CME.

“Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract. As the world’s largest regulated FX marketplace, CME Group is the natural home for this new vehicle that will provide investors with transparency, price discovery and risk transfer capabilities.” ~ Terry Duffy, CME Group Chairman and Chief Executive Officer

It is expected that once the futures contracts are launched, many large investors restricted from directly purchasing bitcoin will be able to buy into the digital currency trend which would take the price of BTC even higher from current level. 

Coinbase is the largest bitcoin exchange in the America and one of the most popular ways to buy and sell most of the digital currencies including bitcoin, ethereum and litecoin. The company now has nearly 12 million users, according to its website.

The launch of Bitcoin futures by CME is expected to bring heavy inflow of institutional money into Bitcoin. Individual investors seem to be rushing towards Bitcoin exchanges, trying to get their hands on Bitcoins before institutional investors make it out of reach. With hundreds of thousands of new users joining into crypto space everyday, the demand of Bitcoin is expected to eventually explode. 

It is estimated that currently less than 0.5 percent of the global population is invested in crypto space. As we can see above, the google search about bitcoin and blockchain has also reached all time high.
Kindly share if you find this post informative