BITCOIN WINS U.S. BACKING

BITCOIN’S value bounced back from a volatile week after the US regulator yesterday gave the go ahead for it trade on three futures exchanges.

It surged to $10,700 on the news, following a rollercoaster week which saw it top $11,000 before crashing 20pc.

CME Group, the world’s largest futures exchange, CBOE Futures Exchange and Cantor Exchange all confirmed they had approved the contracts.

Advocates said bitcoin’s inclusion will help legitimise its use. JP Morgan boss Jamie Dimon recently labelled it ‘a fraud’ and said he would fire any staff found trading it.