Bitcoin climbed above $2,000 for the first time Saturday on increased demand from Japanese and Chinese investors.
The digital currency rose more than 4.5 percent to hit an all-time high of $2,061.88, according to CoinDesk.com. Bitcoin was last trading near $2,047.
Japan accounted for nearly 55 percent of trade volume, up from near 40 percent Thursday, according to CryptoCompare.com.
Prices for bitcoin on the Hong Kong-based Bitfinex exchange rose, narrowing a recent gap with the global rate in anticipation that bitcoin traded on Bitfinex can soon be easily converted to U.S. dollars.
Chris Burniske, a blockchain products lead analyst at fund manager ARK Invest, pointed out in a tweet Saturday that the difference between Chinese and U.S. exchanges for the price of the digital currency narrowed from a 20 percent gap to 5 percent in just a week.