Bitcoin hit its highest all- time high on Tuesday, surging 2 percent as it traded in fresh highs.
The cryptocurrency, which has soared nearly 1,300 percent since the beginning of the year, hit a new all time high of $US5,837.75 per coin at 4:30 p.m.
EDT, according to CoinDesk.
Bitcoin has been gaining in popularity and value, fueled in part by concerns that regulators may clamp down on the cryptocurrency and force businesses to accept it.
It has surged by nearly 20 percent this year, according a CoinDesk analysis of market data.
The bitcoin market has also been trading at a record high, which helped fuel its surge.
The market is worth more than $US2 trillion, according the CoinDesk report, and the surge could make it the biggest cryptocurrency boom in history.
The price of bitcoin hit a record $US4,979.76 at 4 p.p.m., according to data compiled by CoinDesk, which is based on data from CoinMarketCap.
The exchange rate for bitcoin rose from $US3,907.88 to $US6,068.76, according, the data shows.