Bitcoin Prices Extend Breathtaking Rally Above $11,000

Investing.com – The price of the digital currency Bitcoin soared to record high on Wednesday, zooming above $11,000, less than a day after hitting the symbolic $10,000 threshold, despite growing fears over an asset bubble.

On the U.S.-based Bitfinex exchange, was up more than 10% at $11,297 by 9:30AM ET (1430GMT), the highest level in its nine-year history.

William Dudley, president of the Federal Reserve Bank of New York, commented in a conference on Wednesday that the U.S. central bank .

Dudley indicated that the Fed was exploring the idea of launching a digital currency, although he remained skeptical about the recent furor over Bitcoin, calling it a “speculative activity”.

Bitcoin, which started 2017 at about $1,000 and broke through $5,000 in October has risen nearly 1,000% so far this year as investors in the digital currency shrug off warnings of a bubble…

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