Shares in spread betting firm Plus500 soar thanks to bitcoin boom
by Richard Partington from on (#3CASW)
Price jumped 130% last year amid growth in use of derivatives products that allow investors to gamble on cryptocurrencies
The growth in gambling on the yo-yoing value of cryptocurrencies using risky derivatives products has helped boost the profits of the financial spread betting firm Plus500.
The London-listed company's shares rose 130% in value last year and gained nearly another 25% on Wednesday after it said there had been increased interest throughout 2017 in cryptocurrencies such as bitcoin.
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