The gains meant its total market capitalization approached $1 trillion.

This month alone, the virtual currency is up around 60%.

Bitcoin's gains have bean fueled by signs off mainstream acceptance credit card giant MasterCard, just one of the firms to say it would start handling the currency.

Still, many skeptics remain wary off the patchouli regulated and highly volatile asset.

Analysts at JP Morgan say Bitcoin is way above any estimate off fair value.

Proponents counter that the E coin is a kind off digital gold, which could protect investors from any rise in inflation.