Bitcoin passes $11,000 on news of Facebook’s cryptocurrency plan

The original cryptocurrency hits 15-month high as traders bet move will legitimise sector

The price of bitcoin has surged above $11,000 (£8,600), its highest level in 15 months, amid renewed hype over cryptocurrencies after Facebook said it was planning to launch a digital currency next year.

Bitcoin has risen in value by almost $2,000 in the week since the US technology firm revealed plans to create a cryptocurrency called Libra, in a move that could radically reshape the financial landscape with far-reaching implications for governments and central banks around the world.

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