Approval of Coinbase float lifts bitcoin above $60,000 | Business

Bitcoin climbed above $60,000 today after the Wall Street watchdog approved the listing of America’s largest digital currency exchange.

A bullish note from analysts at JP Morgan also sweetened sentiment, helping bitcoin to climb as high as $60,103.04 in morning trading, a gain of 2.3 per cent, or $1,374.51, from Thursday’s close of $58,728.53. Its all-time high, set last month, is $61,080.

Bitcoin, the world’s best-known digital currency, exists only as computer code and has no physical form. It was launched in 2009 by a pseudonymous figure known as Satoshi Nakamoto, at which point its value was next to zero.

Last year, bitcoin nearly quadrupled in value as a new wave of private investors bought into the digital or “crypto” currency boom. Some notable institutional