Bitcoin smashed through $37,700 to hit a new record high on Thursday helping to lift the total value of the entire cryptocurrency market above $1 trillion for the first time.
The digital coin hit an all time high of $37,739.08 at around 1:44 p.m. Singapore time, just a few hours after blowing past $36,000, according to data from Coindesk.
Bitcoin was over 5% from a day earlier at around 2:42 p.m Singapore time.
The cryptocurrency is up about 29% since the start of 2021 and in the past 12 months has surged over 380%.
Meanwhile, the value of the entire cryptocurrency market, which is made up of bitcoin and other digital coins like ether and tether, surpassed $1 trillion for the first time early on Thursday, according to data from Coinmarketcap.