Bitcoin skyrocketed past $7,400 on Friday, hitting yet another record high.
The virtual currency had shot past the $7,000 mark for the first time Thursday and finished on $6,895.41 toward the end of the session.
According to CoinDesk, the cryptocurrency reached a renewed all-time high of $7,454.04 at 6:40 a.m. ET Friday, after opening at $7,030. The jump in price saw bitcoin rise 6 percent.
Analysts believe more institutional investors could warm to the digital token after derivatives operator CME Group announced it would introduce bitcoin futures contracts this year.
The Emergency Election Sale is now live! Get 30% to 60% off our most popular products today!