Bitcoin, which lost three-quarters of its value in 2018, has soared by 24 percent since Friday and more than doubled in price so far this year. At 1612 GMT it was up 0.8 percent at 7,874.
Some traders said investors moved money to bitcoin, treating it as a safe haven as traditional financial markets stumbled on fears that a worsening Sino-US trade dispute could derail the global economy.
Some traders said the prospect of major firms, including Starbucks, to accept digital money were fuelling hopes that bitcoin would gain use among mainstream consumers - something that has previously eluded it.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more