Bitcoin has chalked up a more than fivefold increase in price this year.

Bitcoin hits all-time high above US$5000

Bitcoin smashed through the US$5000 barrier for the first time on Thursday, jumping as much as eight percent on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market.

Typically for Bitcoin, which at less than nine years old is still highly volatile and illiquid compared with traditional currencies and assets, the precise reason for its recent tear was unclear.

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