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

Bitcoin climbed to an all-time high late on Wednesday, July 9, soaring up and past $112,000 (£82,000). At the time of writing on the morning of July 11, it’s up 1.69% to hit £86,795.46. Since the beginning of the year, bitcoin has surged by 18%.

Bitcoin has hit a new all-time high after surging in price by more than six per cent in the space of a few hours on Friday morning. The world’s leading cryptocurrency reached above $118,000 (£87,000) for the first time in its history,