Bitcoin brushes aside bubble warnings to surge past US$9,000

(Nov 27): Bitcoin surged past US$9,000 ($12,116) for the first time, less than a week after topping US$8,000 and taking its year-to-date rise to more than 850%.

The price of the largest cryptocurrency by market value is soaring as it gains greater mainstream attention despite warnings of an asset bubble. Everyone from Wall Street executives to venture capitalists has been weighing in with their thoughts on the digital currency, with some more skeptical than others. Bitcoin has climbed more than 40% over the past two weeks.

The surge has swept along individual investors. The number of accounts at Coinbase, one of the largest platforms for trading bitcoin and rival ethereum, has almost tripled to 13 million in the past year, according to Bespoke Investment Group LLC.

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