Last Saturday the price of digital currency Bitcoin (Bitcoin) jumped to a new record high above $4000 and reaching to a height of $4,225, CoinDesk reported.
Thus, Bitcoin has been setting consecutive all-time highs and has quadrupled in 2017, gaining more than 40% in August alone.
Some other crypto-currencies have been doing very well over the week-end too, having seen increases of over 20%, including IOTA and neo.
The market of this digital currency keeps on cruising as well taking on another $10 billion last week and reaching up to approximately $64 billion by now.
The total value of all cryptocurrencies also set yet another new all-time high at a benchmark level of over $137 billion only several days after the previous record of $126 billion.
It should be pointed out that Bitcoin trade in Japanese yen accounted for almost 46% of global trade volume. And Chinese yuan and South Korean won accounted for about 12% each.
"Bitcoin is benefitting from geopolitical tensions - trading in Japan and Korea has increased significantly over the last few months,” a head of BKCM, which runs an digital asset strategy, Brian Kelly explained.
Indeed, crypto-currencies were seen as save heaven by many traders and investors at the global selloff in stocks and bonds amid the U.S. - North Korea political crisis.
Brian Kelly also marked the rising attention to Bitcoin from the Russian government as well as increased institutional investors interest after the crypto-currency successfully surpassed the split into Bitcoin and Bitcoin cash (Bitcoin.Cash) earlier this month.