Bitcoin advanced 11% from Friday to $6,957.73 as of 9:01 a.m. Tokyo time, having earlier hit $7,585, according to Bitstamp pricing. The Bloomberg Galaxy Crypto Index is up 7.6%.
The largest cryptocurrency is on a tear after trading closer to $5,000 at the start of May and has more than doubled since mid-December. Still, it remains a long way off its 2017 peak that topped $19,000. The future of virtual currencies remains a contentious debate amid heat from regulators and news of a hack on one large exchange. New York Attorney General Letitia James last
alleged an $850 million cover-up by the companies behind virtual currency Tether and Bitfinex — one of the world’s largest crypto exchanges.
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