NEW YORK >> Bitcoin hit a new record high today as the world’s largest cryptocurrency by market value continued to benefit from strong investor demand. The rally since the start of the year has been fueled by institutional investors, friendlier policies under President Donald Trump, and bitcoin’s increasing connection with global financial systems.

Bitcoin rose as high as $125,835.92 after climbing above $125,000 for the first time on Sunday. It was last up 2.02% at $125,253.63, on course for the second straight session of gains. It has risen more than 33% this year.

“Bitcoin is the hurdle rate. If you can’t beat it, you have to buy it. And I think the next 12 weeks are going to be very fun for bitcoin holders,” wrote Anthony Pompliano, founder and CEO of Professional Capital Management,

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