Bitcoin’s value reached an all-time high last week amid a bull run for leading cryptocurrencies, days before a ban on sales of some cryptoassets to UK retail investors comes into effect.
The value of a single bitcoin surpassed £17,000 on Friday, and has risen fourfold since March, while other cryptocurrencies such as litecoin, ethereum, XRP and bitcoin cash have also made gains in recent months.
The currencies can be bought in part or in full via online exchanges, and are highly volatile. They have been buoyed recently by opportunistic investors who hope bitcoin will become more mainstream. From next year, for example, PayPal plans to allow its users in the US to pay with bitcoin.
From January the Financial Conduct Authority, the City regulator, will