Bitcoin Price rose as much as $30 million to reach a record high on Thursday, while gold surged to record highs as investors began to pour in for a possible bull market.
The digital currency is currently trading at a low of $1,250.21.
It was trading at $1.2417 at 10:50 a.m.
Gold was trading up more than $2,000 a troy ounce, or about $9,000, at $13,100.
The metal’s price was boosted by the recent rise in demand for silver as investors were trying to buy gold for their retirement accounts.
The S&P 500 Index was also up more quickly, rising more than 2.5 percent in afternoon trading to 2,827.62.
The Nasdaq Composite Index was up nearly 3 percent.
Gold surged about $10 billion on Thursday.
It is the most volatile currency on the planet, but is not the most popular, because it is traded in a way that is difficult to track.
Gold has risen more than 25 percent over the past three years.
The gains come as the U.S. central bank announced its first-ever rate hike on Thursday and signaled that the Fed will continue to tap the central bank’s $85 billion monthly stimulus to boost the economy.
Investors also took note of the potential bull market in the cryptocurrency market, which could fuel the next bubble that could burst.
The price of bitcoin has soared since late September, when a group of prominent cryptocurrency enthusiasts announced a plan to raise $10 million to fund a new Bitcoin ATM, a project that was later revealed as a hoax.
Investment in bitcoin soared after the announcement, rising to $11.6 billion by mid-November, according to data from CoinMarketCap.
The market capitalization of the cryptocurrency jumped to about $3.4 billion on Friday from about $1 billion, according.
The total market capitalizations of all the cryptocurrencies on the market is around $50 billion, including gold, according the website CoinMarketBot.