Digital currency bitcoin took another leap higher on Thursday, rocketing above $7,000 for the first time after a more than tenfold increase in its value over the past year.

Bitcoin has seen eye-watering gains in recent months, having more than doubled in value in the past seven weeks alone. It is on track for a fifth consecutive quarter of increases -- a run not seen since 2012-2013, when it was approaching $100 for the first time.

It hit as high as $7,354.10 on the Luxembourg-based Bitstamp exchange on Thursday BTC=BTSP, before settling back to $7,030 by 1630 GMT, still up over 4 percent on the day.

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