Bitcoin gains more currency with forthcoming futures market

FeaturesAssociated Press

Investors will soon have another way to make or lose money on the digital currency bitcoin.

CME Group plans to open a futures market for bitcoin before the end of the year, if the Chicago-based exchange can get approval from U.S. regulators.

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Tuesday's announcement is likely to give further credibility to bitcoin, a high-tech creation spawned about a decade ago as an alternative to government-issued currencies.

Bitcoin initially was used primarily to buy illegal goods and services online. But in recent years, it has been a hot investment among speculators betting it will become a mainstream form of payment, causing its value to soar.

Digital asset specialist CoinDesk says the trading price for a bitcoin soared above $6,400 for the first time Tuesday.