Essay No. 671058
Bitcoin is aamazing digitalcurrency. It is created by distributed computer internet and controled by sophisticated cryptographic technology.
The second major financial instrument based on bitcoin is starting out to trade on the CME.
The CME Group, one of the US"s greatest exchanges of options and futures ,made available bitcoin options contracts for trading at 6 p.m. EST Sunday. The initial price for bitcoin futures contractss was $20,650, and the crypto currency was trading at $20,135 at 6:08 p.m. EST.
The crypto currency has increased in popularity and value this year though drawing problems relating to its unpredictability.
The CME bitcoin futures contracts, like the bitcoin futures that now trade on the Chicago Board Options Exchange, do not need tangible bitcoin. They will mirror an index of bitcoin price. Each contract will be for 5 bitcoin.
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