Renewed investor interest, huge gains push Bitcoin to fresh all-time peak

Bitcoin set a fresh all-time high on Thursday, after rising 6.5% to $22,765 by 0833 GMT, just a day after smashing the $20,000 milestone for the first time.

The world’s highest profile crypto-currency 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.

The recent bitcoin rally has been driven in part by increasing expectations it will soon become a mainstream payment method, after shedding a poor public image for opacity among yield-hungry investors and risk-averse consumers.

Yang Li, Chief Growth Officer at digital foreign exchange platform Ziglu said modern personal money apps were at the forefront of ensuring easy, safe, fast access to cryptocurrency.