29 Apr '13, 6am

IG Poised to Widen Market for Bitcoin Spread Bets #news

IG Group is set to extend its service allowing customers to bet on the wildly fluctuating price of Bitcoin, the virtual currency that has captivated the interest of speculators and divided spread betting operators. The popularity of Bitcoin bets on IG Group's platform, which were only introduced at the beginning of April, follows the rapid rise in the price of a Bitcoin to $266 earlier this month and subsequent crash just days later to $54. (Read More : Big Next Step for Bitcoin: Meeting the Regulators ) The biggest spread-betting operator in the UK by sales said that betting on Bitcoin had turned into "one of the more popular specialist markets" IG has ever offered, attracting hundreds of trades each week. David Jones, IG's chief market strategist, said the volatility of Bitcoin made it attractive to clients. But he added that it was potentially more risky for IG as it ta...

Full article: http://www.cnbc.com/id/100682571

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