Bitcoin nears all-time high ahead of rival cryptocurrency IPO

The token rose 2.6% to €51,416 as rival Coinbase prepares to go public on the Nasdaq this week at a staggering valuation of about $100bn

Investor appetite for cryptocurrencies has hit new heights.

Bitcoin neared an all-time price high as bullish sentiment gathered steam ahead of a listing by the largest US cryptocurrency exchange.

The token rose as much as 2.6% to $61,229 (€51,416), the highest in nearly a month, before falling back to trade little changed.