The price of bitcoin has hit its highest level since January 2018, with the digital token briefly topping the $15,000 mark.
The cryptocurrency was up more than 5 percent on Thursday, and is up roughly 10 percent, or $1,500, since the eve of the presidential election on Monday.
Fueling the rally has been volatility resulting from the election — which as of Thursday afternoon was still too close to call — while investors hope that future stimulus to economies hit by the coronavirus pandemic will help drive up the value of digital assets.
The world’s best-known cryptocurrency has seen its value climb in recent weeks after PayPal announced that it would allow its customers to buy and sell bitcoin on its platform.
The news bolstered long-standing expectations that bitcoin and its rivals could become a more viable form of payment, a goal that has been elusive.
Bitcoin hit an all-time high of nearly $20,000 in late 2017, but has never come close to reaching those heights since.
The coin’s value was up 5.9 percent Thursday afternoon, at $14,982.50 per bitcoin.
With Post wires