Bitcoin surged past $16,000 for the first time on Thursday, with frenzied demand to trade the cryptocurrency buckling one of the largest exchanges just days before the first U.S. futures contracts begin trading.
Bitcoin’s rally of more than $3,000 in the past 24 hours continues to defy its legions of skeptics, as mainstream demand for the world’s largest cryptocurrency explodes. Investors flocking to open new accounts or place orders Thursday left Coinbase, the largest U.S. exchange, warning of outages and slow transactions.
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