Bitcoin rose above $118,000 on Friday, extending the token's record-setting rally into its third day.

Bitcoin hit a new all-time high on Thursday, alongside the Nasdaq Composite and tech giant Nvidia. The oldest and largest cryptocurrency traded as high as $113,853.97, a day after breaking its previous record set in May,

Bitcoin topped the $118,000 level for the first time, surpassing Thursday’s record as it continued to gain from its increasing adoption by companies as a reserve asset and lawmakers passing pro-crypto legislation.