Bitcoin Surges Above $900 on Geopolitical Risks, Fed Tightening

Bitcoin headed for its biggest weekly jump since June as rising geopolitical risks boosted demand for alternative assets. The cryptocurrency surged 15 percent this week to $900.40 as of 2:38 p.m. in Hong Kong, taking its gain this year to 107 percent, data compiled by Bloomberg show. The last time it was at such levels was in January 2014, when bitcoin was tumbling from its record price of $1,137 following the implosion of the MtGox exchange and tightening Chinese controls.
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