Bitcoin hit a new all-time high on Thursday, alongside the Nasdaq Composite and tech giant Nvidia. The oldest and largest cryptocurrency traded as high as $113,853.97, a day after breaking its previous record set in May,

Bitcoin rose above $118,000 on Friday, extending the token's record-setting rally into its third day.

Bitcoin has reached an all-time high, surpassing $118,000 as a flood of money moves into spot bitcoin ETFs, which have opened up cryptocurrency investing to millions. A soft U.S. dollar and the digital currency friendliness of President Donald Trump's administration has also helped to push the price of bitcoin to unprecedented levels recently.