Bitcoin Has Set Another Historic Record

The cryptocurrency is worth more than $123,000.

On Wednesday, August 13, the cryptocurrency Bitcoin surpassed the $123,500 mark and surpassed the previous all-time high of $123.2 thousand recorded on July 14.

This was reported by Bloomberg citing crypto exchanges.

It is noted that the record was set shortly after the S&P 500 index closed at its own all-time high for the second day in a row, continuing a summer surge that has repeatedly taken the benchmark to new highs.

Bitcoin was worth $123,866.41 apiece as of 04:20, according to crypto exchange Binance.

Bitcoin has been steadily rising in price over the past year thanks to a favorable legislative climate in Washington, D.C., since President Donald Trump took office.

As Bloomberg notes, publicly traded companies, led by Strategy Michael Saylor, have boosted demand by following the increasingly popular corporate tactic of hoarding the original cryptocurrency. That strategy has recently spread to smaller competitors like Ether, leading to an overall uptick in the digital asset market.

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