$BTC Bitcoin rose by 3% to a record level of $123,588.4, surpassing the peaks last seen in mid-July.
The cryptocurrency has been on a continuous rise since last week, supported by an increase in institutional buying, and after moderate U.S. inflation data bolstered bets on interest rate cuts in September.
Sentiment towards cryptocurrencies was further strengthened this week after the cryptocurrency exchange Bullish Inc (NYSE:BLSH), backed by Peter Thiel, had a strong debut on the New York Stock Exchange. The company's shares jumped by about 90% from the initial public offering price, raising the company's value to over $10 billion.
Ether, the second-largest cryptocurrency in the world, traded less than $100 from its record level on Thursday, after also benefiting from increased institutional buying in recent weeks.
Ether rose by 3.8% to $4,783.10 - close to the record level of $4,868.8 it recorded in November 2021.
