Bitcoin Surges to Two-Year High as Supply Seen Shrinking in July
- Rewards from mining digital currency to be halved next month
- Bitcoin rebounds as weak yuan spurs outflow concern: analyst
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Bitcoin surged to a two-year high amid expectations supply of the digital currency will shrink next month.
The cryptocurrency rallied to $720.77 on Monday, the highest since February 2014, according to data compiled by Bloomberg. It was trading at $692.83 as of 2:20 p.m. in New York, up 20 percent from Friday.