What’s behind crypto’s record-breaking rally – and how high could it go? - The cryptocurrency’s latest price surge has revived ‘digital gold’ comparisons

The cryptocurrency rose to $112,009 late on Wednesday, surpassing its $111,999 record, before slipping back to $111,294.17 at the time of writing.

Investor interest has increased since the launch of Bitcoin ETFs and Blackrock is now the largest holder of the cryptocurrency, with its iShares Bitcoin Trust (IBIT) owning 700,307 BTC. Financial Conduct Authority data shows 12% of UK adults now own crypto, despite the City watchdog warning that people could lose all their money from it.