$BTC #Bitcoin, the world's largest cryptocurrency by market capitalization, has surged more than 23% over the past 30 days, hitting an all-time high of $109,487 Wednesday morning and surpassing $110,000 on Thursday, according to Coinmarketcap.

Bitcoin initially surged after President Donald Trump's reelection in November, on hopes of a pro-cryptocurrency administration. The highly volatile cryptocurrency then fell to $76,000 in April before recovering in recent weeks.

This new high surpasses the previous record of just over $110,000, set earlier this year. It comes as US lawmakers are introducing the first-ever cryptocurrency legislation. Coinbase (COIN), a cryptocurrency exchange, joined the S&P 500 on Monday, marking a major step forward for the sector. Cryptocurrencies have also received support from Trump, who has his own meme coin, as well as other crypto projects. Trump is expected to host a private dinner on Thursday with major holders of his meme coin. today 111000$BTC