Bitcoin climbed back to US$10,000 as the purchase of one of the bigger digital token exchanges by a more established financial services company bolstered expectations for wider mainstream acceptance of cryptocurrencies.
Circle Internet Financial Ltd., a closely held firm backed by Goldman Sachs Group Inc., said it acquired Poloniex Inc., the 14th largest digital-token exchange. Terms of the agreement weren’t disclosed. Fortune magazine reported earlier that the deal was for about US$400 million, citing an unnamed person familiar with the transaction.
Bitcoin gained as much as 4.3 per cent to US$10,346, after dropping below the key level last week. Bitcoin has hovered around the US$10,000 mark for most of the year, or about half the record hit in mid-December.