Source: / by Tyler Durden / Nov 2, 2017 3:51 PM

Back in the summer of 2015, one tracked the euphoria of the Chinese stock market bubble by the number, usually in the hundreds of thousands, of new brokerage accounts that were opened on any one given day.

And while that bubble has long since burst, the tradition of measuring new account openings has remained, and nowhere more so than in the biggest momentum instruement of the day, bitcoin.

Following a 7x increase in the price of bitcoin this year alone, which earlier today topped $7,000 for the first time ever (before sliding as much as $600) the broader public is now truly on board, and as one of the world’s biggest US cryptocurrency exchanges reports in its daily usage update, there were 11.9 million Coinbase users as of November 1, shortly after the CME announced it would introduce bitcoin futures by the end of 2017.

This number is notable because according to data collected by Alistair Milne, an investor in the Atlanta Digital Currency fund…


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