Bitcoin topped the $118,000 level for the first time, surpassing Thursday’s record as it continued to gain from its increasing adoption by companies as a reserve asset and lawmakers passing pro-crypto legislation.

Bitcoin's bull run continues. The cryptocurrency rose as high as $118,739.86 on Friday, according to CoinDesk data, notching a new intraday high for a third straight day. Bitcoin recently stood a little lower,

Bitcoin broke through $120,000 for the first time on Monday, reaching a new all-time high before settling just below $122,000, according to a recent report by Reuters. The big jump comes as US politicians get ready to vote on new laws that could make life easier for cryptocurrency companies.

Bitcoin, the world's largest cryptocurrency, crossed the $120,000 mark for the first time in history on Monday. The digital currency, which has gained more than 29% for the year thus far, last traded 1.

The price of bitcoin clocked in at $120,290, amounting to a nearly 15% surge over the past month as crypto-friendly legislation made its way through Congress and investors displayed growing adoption of a new tool for investment in bitcoin.

The price of bitcoin surpassed $122,000 on Monday after surging beyond $120,000 for the first time over the weekend, the latest milestone for the world’s most valuable cryptocurrency as House Republicans stir regulatory optimism among investors.

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."

Bullish tailwinds have boosted the world's largest cryptocurrency in the last week. The token's price broke above $120,000 for the first time on Monday.