Bitcoin near two-week highs, fuelled by hopes for Facebook’s Libra

Bitcoin held on Tuesday near its highest for two weeks after surging as much as 9 per cent overnight, a move analysts said was probably driven by hopes that cryptocurrencies are gaining wider acceptance after Facebook disclosed plans for a digital coin.

Bitcoin touched $12,833 overnight on the Bitstamp exchange , its highest since June 27, before pulling back. It was last up 2.2 per cent at $12,560. The biggest cryptocurrency has gained over 45 per cent since Facebook laid out plans last month for its Libra coin, sparking renewed optimism that cryptocurrencies will gain mainstream acceptance among companies and individual users.