Bitcoin at 'tipping point,' Citi says as price surges

A collection of bitcoin (virtual currency) tokens are displayed in this picture illustration taken Dec. 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo

NEW YORK/LONDON (Reuters) - Bitcoin rose nearly 7% on Monday as risk assets rallied after last week's bond rout cooled, with Citi saying the most popular cryptocurrency was at a "tipping point" and could become the preferred currency for international trade.

With the recent embrace of the likes of Tesla Inc and Mastercard Inc, bitcoin could be at the start of a "massive transformation" into the mainstream, the investment bank said.