Bitcoin’s value set a new record as it crossed the $2,500 level, meaning it has more than doubled this year.
The digital currency rose 10% yesterday to its record high of $2,537.16, according to CNBC.
In five days, Bitcoin rose to just over 40% and has gone up 88% so far this month. On April 30, the currency was valued at $1,348.65.
The recent Bitcoin surge is also tied to Japan and China treating the currency with more legitimacy. At the start of April, Japan introduced rules that presented Bitcoin as an actual currency. The value of Bitcoin has seen a steady increase since then.