INTERNATIONAL - Bitcoin held ground on Monday near a one-month high scaled over the weekend after China’s president Xi Jinping said the world’s second biggest economy should accelerate the development of blockchain technology.
Blockchain, a digital ledger that forms the backbone of many cryptocurrencies such as bitcoin, should be the core for innovation in China, Xi said on Thursday.
Bitcoin BTC=BTSP surged 24 percent between Friday and Saturday after Xi's comments, touching $10,350 in its biggest two-day jump since the height of its retail-driven bubble in December 2017.
Other major cryptocurrencies including ethereum ETH=BTSP and Ripple's XRP XRP=BTSP also soared
In early London trading, bitcoin - the largest cryptocurrency by market capitalisation - was down 1.6 percent at $9,403.