ISTANBUL

Bitcoin, the world’s largest cryptocurrency, surged past $125,000 for the first time in its 17-year history, reaching a record high of $125,245.57 on Sunday, up nearly 2.7%.

The world’s largest cryptocurrency rose to $125,245.57 at 0512GMT, surpassing its previous record of $124,480 set in mid‑August.

The cryptocurrency rose for an eighth consecutive session on Friday, supported by recent gains in US equities and inflows into Bitcoin exchange-traded funds.

The US dollar, meanwhile, slipped on Friday to its lowest in weeks against major currencies, amid government shutdown and delays in key economic data releases.

October is traditionally a strong month for Bitcoin, with this year’s surge lifting its value by more than 30%.