Bitcoin briefly rose above $60,000 for the primary time on Saturday, as increasing backing from corporate heavyweights helps the world's hottest virtual currency continue its record-breaking run.
The cryptocurrency hit an all-time high of $60,012 at 1149 GMT, consistent with the web site CoinMarketCap.
Bitcoin has been on a meteoric rise since March last year, when it stood at $5,000, spurred by online payments giant PayPal saying it might allow account holders to use cryptocurrency.
Last month Elon Musk's electric carmaker Tesla invested $1.5 billion within the virtual unit, while Twitter chief Jack Dorsey and rap mogul Jay-Z said they're creating a fund aimed toward making Bitcoin “the internet's currency”.
Others jumping on the bandwagon include Wall Street player BNY Mellon, investment fund giant BlackRock and mastercard titan Mastercard.
Bitcoin, which was launched back in 2009, hit the headlines in 2017 after soaring from but $1,000 in January to almost $20,000 in December of an equivalent year.
The virtual bubble then burst in subsequent days, with bitcoin's value then fluctuating wildly before sinking below $5,000 by October 2018.
However the last year's rise has been more steady, with investors and Wall Street finance giants wooed by dizzying growth, the chance for profit and asset diversification, and a secure store useful to protect against inflation.
Bitcoins are traded via a decentralised registry system referred to as a blockchain.
The system requires massive computer processing power so as to manage and implement transactions.
That power is provided by “miners”, who do so within the hope they're going to receive new bitcoins for validating transaction data.
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