Hong Kong — Bitcoin headed for its biggest weekly jump since June 2016 as rising geopolitical risks boosted demand for alternative assets. The cryptocurrency surged 15% this week to $900.40 as of 2.38pm in Hong Kong, taking its gain this year to 107%, data compiled by Bloomberg show. The last time it was at such levels was in January 2014, when bitcoin was tumbling from its record price of $1,137 following the implosion of the MtGox exchange and tightening Chinese controls. Bitcoin is extending a rally that has beaten every major currency, stock index and commodity contract in 2016. Buyers sought alternative assets this week amid the killing of Russia’s envoy to Turkey and a separate attack that left 12 people dead in Berlin. Weakening pressure on the yuan, which intensified this month as the US projected a faster pace of tightening next year after Donald Trump’s election win, is also increasing demand for bitcoin in China, where most of the trading occurs. "Terrorist attacks in Eur...
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