Lyon, France (CNA) — Bitcoin price surged past the $1-2,000 level and touched above $1.200 early Thursday as investors turned to the cryptocurrency as a hedge against deflationary policies.
The bitcoin price surged above $9,200 for the first time, while Ethereum, which was trading below $1 per coin, rose to a record $2,869.40, a significant jump.
Bitcoin futures futures were up $2.38 to $1,-974.80 per coin on the New York Mercantile Exchange, while the ICE Futures ETN gained $3.15 to $2,-098.00.
The ICE Future ENS traded at $2-$2.50, the same level as its Friday close.
The ENS closed above $2 on Thursday, up nearly 3 percent from the close on Friday.
Ethereum hit $2 per coin in the second session, up $1 in the past two sessions.
Ethereum has more than doubled in value since the end of 2017, to more than $11 billion.
Bitcoin reached a record high of $1.,082.10 earlier in the day, beating the $900 level it reached on Jan. 26.
That was a record for a single day in cryptocurrency history.
The cryptocurrency’s price has rallied above $10,000 a coin on two occasions, once on Jan .
18 and once on Feb. 18.
Bitcoin was briefly worth $1 for two consecutive days, but the rally was short-lived.
The price rallied to $10 per coin before falling back to $9 per coin.
The Bitcoin price has been buoyed by a spike in demand for the digital currency.
Bitcoin surged above the $3,000 mark on Jan 28, the day after a New York Times report revealed a Russian investment fund invested in the digital cryptocurrency.