World’s largest exchange CME launches Bitcoin futures trading

Bitcoin received another big boost on Sunday after the Chicago Mercantile Exchange began futures trading for the virtual currency The move comes a week after the Chicago Board Options Exchange introduced similar Bitcoin derivatives

Park Ji-won has more The world's largest derivatives exchange, the Chicago Mercantile Exchange began bitcoin futures trading from Sunday

The launch of futures trading on the CME comes a week after the Chicago Board Options Exchange, or CBOE, became the first established financial market to offer futures trading for bitcoin Analysts say the virtual currency's entry into the Chicago Mercantile Exchange could push its price higher, as the CME is a much bigger exchange than the CBOE,

handling 55 times the CBOE's volume during the January to September period this year "It's the only legitimized asset to us being at the exchange because it now offers people a more traditional way to invest It also may indicate to people that this really is the kind of asset that you'd want to have some percentage of your portfolio or your wealth diversified into

" The market opened at 8AM, Korea time Hoping to guard against wild price swings, the CME will hit pause on trading if prices fluctuate by more than the CME's set limits Despite some measures to protect investors, skepticism over the cryptocurrency continues, with Federal Reserve Chair Janet Yellen warning of the dangers of the virtual currency last week "Bitcoin, at this time, plays a very small role in the payments system It is not a stable source a store of value, and it doesn't constitute legal tender It is a highly speculative asset" Bitcoin was invented in 2008 by a person or group calling themselves Satoshi Nakamoto, and the identity of the mysterious inventor is still not yet known

Park Ji-won, Arirang News

Source: Youtube

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