Bitcoin's value surged above $34,000 (£24,850) for the first time on Sunday as the leading cryptocurrency continued to soar. 

It put the gain this year at almost $5,000, although by 17:00 GMT the price had drifted lower to about $33,000, according to the Coindesk website.

The rise was put down to interest from big investors seeking quick profits.

It comes after Bitcoin soared 300% last year, with the price of many other digital currencies also rising sharply.

Ethereum, the second biggest cry ptocurrency, gained 465% in 2020.

Some analysts think Bitcoin's value could rise even further as the US dollar drops further.

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