Bitcoin Futures Reach Almost $19K In First Day Of Trading
The one-month contract for bitcoin futures opened Sunday at more than $15,000.
LEARN MOREPosted: 9:00 a.m. EST Dec 18, 2017
Bitcoin is now trading on the Chicago Mercantile Exchange's futures market, and some financial experts are warning investors.
Futures trading is when an investor bets on an asset's value going up or down at a future time.
Trading on the CME is a significant step for bringing bitcoin into the mainstream, because investors don't have to own the digital currency to wager on it.
However, the chairman of Swiss bank UBS has warned against investing in bitcoin and called on regulators to discuss cryptocurrencies.
A number of financial experts have warned that not only is bitcoin not a real currency — it doesn't really do anything. It's an asset without a clear-cut use, so experts question bitcoin's value.
Plus, many argue the cryptocurrency's meteoric rise is just a bubble. In January, one bitcoin was worth $1,000. On Sunday, the value approached $20,000.
