Bitcoin flew past the $14,000 mark early this morning less than a full day after it passed $12,000 for the first time.
The cryptocurrency, which has staged a stunning rise from near-anonymity at the beginning of the year when its price was- below $1,000, was up 3.1 per cent at $14,133.93 at the time of writing, according to Coindesk's- aggregate index.
The surge in price has led some analysts to label it a bubble, though there are questions around just when it might pop.
The cryptocurrency is famed for its volatility: yesterday, it dropped by about $500 in three minutes before jumping back up to where it started again.
However, even JP Morgan, whose boss called bitcoin a fraud,- changed its tune on the digital currency this week with analysts saying- the launch of bitcoin futures contracts by established exchanges could transform cryptocurrencies into an emerging asset class.
But with more attention from investors comes a deeper focus from regulators.
The Treasury has- set out regulatory plans for bitcoin in a bid to halt suspicious activity from taking place through the cryptocurrency's anonymous platform.