Bitcoin set a fresh all-time high on Thursday, after rising 65% to 22,770 by 0833 GMT just a day after smashing the $20,000 milestone for the first time.
The world highest profile cryptocurrency has gained more than 175% this year buoyed by demand from larger investors attracted to its potential for quick gains and perceived inflation hedging qualities.
Smaller coin ethereum which often moves in tandem with Bitcoin, was trading 1.75% higher.
As Bitcoin prices surged to their highest ever prices, industry investors are pulling assets and going into Bitcoin treasury bills for hedging.
Crypto bulls have pointed to increased demand from institutional investors for bidding as a hedge against inflation like gold amidst unprecedented U.S. coronavirus stimulus.