Bitcoin Surges on Hopes That Upcoming Split May Be Avoided
- SegWit2x upgrade was scheduled to go in effect in one week
- Digital currency has climbed more than sevenfold this year
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Bitcoin soared to a record after a technology upgrade that was threatening to disrupt the biggest cryptocurrency was called off, removing another concern for mainstream investors captivated by this year’s more-than-sevenfold gains.
The virtual currency jumped as much as 11 percent to $7,882 after the main architects behind a change to its underlying software, known as SegWit2x, canceled their controversial plans, saying they wanted to avoid deepening divides in the developer community.