TheCable

Bitcoin and Ethereum hit a new all-time highs on Friday.

Bitcoin, world’s most popular cryptocurrency, rose 6.4 per cent to reach an all-time high above $56,620, taking its weekly gain to 18 per cent.

It has surged more than 92 per cent this year, and now has a market value of more than $1 trillion for the first time.

Bitcoin has been on a tear in recent times, buoyed by acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.

Ethereum, the second-largest cryptocurrency by market capitalization and volume, also surged past $2,000 as the native cryptocurrency of the Ethereum blockchain continues its year-long bull run.

Setting a new record of $2,033.08, up 6.18 per cent in the last 24 hours, with the market capitalization of the crypto reaching $233.3 billion. The cryptocurrency is up 172.5 per cent year-to-date.