B itcoin is soaring to the moon, with the cryptocurrency posting a new all-time high on Monday of $122,838, nearly a 100% increase since July of last year. For a brief time, Bitcoin’s market cap was upwards of $2.4 trillion, surpassing Amazon as the fifth most valuable asset in the world.

Bitcoin hits a record high of $120,000, continuing its upward trend. The cryptocurrency has been on a winning streak, setting records for three consecutive days. Bitcoin's value has surged 29% this year, reflecting growing investor interest and market momentum.

Crypto-friendly legislation made its way through Congress over the past month and investors displayed growing adoption of a new tool for investment in bitcoin.

Bitcoin has hit a new all-time high, surpassing $123,000 on Monday. This marks a sharp rise from $108,000 just a week ago.

Bitcoin reached all-time high above $123,000 as lawmakers prepare crypto regulatory bills during "Crypto Week," following Trump's pledge to make the U.S. a "bitcoin superpower."