According to data from the Coinbase currency exchange, Bitcoin’s (BITCOIN: Bitcoin) price has topped a record of $4,300 on Monday, gaining almost $1,000 to its rate one week ago.
After breaking through to its new all-time high it settled back under the $4,300 mark.
At the same time the bitcoin market cap soared past $70 billion and the market capitalization of all cryptocurrencies reached a record $138 billion.
"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.
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.
"Anyone clever or lucky enough to have bought $1,000 of bitcoins in July 2010, when the price stood at $0.05, would now have a stash worth $46 million. […] If there is such a thing as a healthy bubble, this is it,” The Economist marked in one of its articles.