The cryptocurrency Bitcoin has experienced its largest one-day increase since its inception, hitting $4.6 million at press time, according to data from the CoinDesk Bitcoin Price Index.
The surge in price is a testament to the rapid increase in interest in Bitcoin as a new currency, a blockchain and the technology behind it.
CoinDesk was one of the first major news organizations to report on the Bitcoin price surge, which has been fueled by investors and speculators eager to cash in on the rising popularity of the digital currency.
Bitcoin rose from $4 per coin in mid-January to a peak of $5,847.52 in early February.
In the past week, Bitcoin has soared to $5.5 million, reaching a high of $6,848.75 in early April.
CoinDance, the online trading platform that has been around for several years, reported a total trading volume of $17 million worth of Bitcoin and ether.
Bitcoin and Ether prices spiked by more than 200% over the past few weeks.
The value of bitcoin has also increased significantly in the past two months, hitting an all-time high of more than $531 per coin last month.
Bitcoin’s rise in value has been a boon for some investors, who have been pouring millions of dollars into Bitcoin as well as ether.
On Wednesday, CoinDesk reported that a total of $11.6 billion worth of Ethereum, the cryptocurrency that has become popular as a way to pay for goods and services on the Internet, has been traded on CoinDances platform in the last three months.
Ether, a cryptocurrency that can be used to buy things online, surged to $1.3 million on Wednesday.
The rise in popularity of Bitcoin, the most popular digital currency, and Ethereum has led to a surge in the price of Ether.
Ether was trading at $1,225 per coin on Wednesday, according the CoinDancer data.
The virtual currency, which is based on the Ethereum blockchain, is a peer-to-peer digital currency that has gained popularity due to its ability to make online transactions cheaply and rapidly.
The Bitcoin price spike is also fueled by interest from the financial world.
Wall Street is increasingly interested in investing in cryptocurrencies.
The cryptocurrency has risen from $9 billion in December 2014 to $18.2 billion in January.
This month, the total value of all cryptocurrency is $28.9 billion, according CoinDesk.
Wall St. is also investing in Bitcoin.
Bitcoin futures contracts have risen nearly 25% from their low point of $18 per coin to $22.50.
The move by Wall St to embrace cryptocurrencies is also fueling interest from some of the most prominent players in the Bitcoin space, including the Winklevoss twins, who are among the most famous and influential investors in the cryptocurrency space.
The twins are also among the richest individuals in the world, according a Forbes magazine list of billionaires.
They own more than 22% of the total market value of Bitcoin.
In addition to trading cryptocurrencies, the twins also run the online marketplace, Winklevopts.com.
In February, Winklevins co-founder and chief executive officer Cameron Winklevine sold his shares in the company, including nearly $5 million worth.