Bitcoin has traded at its highest value to date, reaching $19,920.53 (£14,821) according to data-provider Coindesk.
It took the virtual currency nearly three years to top its previous record, when it peaked about $137 lower.
Bitcoin has risen in value by more than 170% since the start of the year.
Analysts suggest some investors have treated it as a “safe haven asset” at a time of uncertainty caused by the coronavirus pandemic, but others warn that it remains volatile.
Bitcoin fell below $3,300 at one point after reaching its previous high.