Bitcoin, the world’s biggest cryptocurrency, on Saturday reached a record high, trading up to $59,755.

Bitcoin is up more than 2% from its previous year high of $58,354.14 on Feb. 21.

Bitcoin’s price soared this year as major firms, such as BNY Mellon, asset manager BlackRock Inc, credit card giant Mastercard Inc, backed cryptocurrencies, while those such as Tesla Inc Square Inc and MicroStrategy Inc invested in bitcoin.