Bitcoin surges pass $10,000 to highest level since mid-February

The world’s largest cryptocurrency rallied above $10,000 once again amid optimism digital assets will continue to benefit in the wake of unprecedented global fiscal and monetary stimulus.

Bitcoin rose about 5% on Tuesday to trade around $10,168 as of 10:05 a.m. in New York. The rally catapulted the coin to its highest level since mid-February. Bitcoin has advanced more than 40% this year, while peer tokens, including Litecoin and Bitcoin Cash, have also posted double-digit gains. Bitcoin still remains about 50% below its all-time high set before the collapse of the crypto bubble in late 2017.

Crypto fans have seen prices surge this year thanks to projections that digital tokens can benefit as central banks and governments around the world unleash stimulus measures to shore up listing economies.