Bitcoin reaches all-time high of over $118,000 Friday

Bitcoin, one of the most widely traded cryptocurrencies in the public market, has surpassed $118,000 in value per coin to reach an all-time high on Friday.

An image depicting Bitcoins centered in a black background, eldiariony.com.

Bitcoin's rise followed a general shift of crypto rising as Nasdaq tickers rises, noted by crypto analyst Nic Puckrin, "Historically, Bitcoin has remained highly correlated with tech stocks, and this correlation is still playing out."

Today, Nvidia reached an all-time high of above $166 per share and a market cap of over $4 trillion, making it the most valuable publicly traded stock (total value of shares) ever in history. Other stocks in the Magnificent Seven like Google, Meta, and Apple also saw landmark improvements in share price and market cap over the course of the week.

Crypto rival Ethereum has also surged this week alongside Bitcoin, making a recent high.

In addition, stablecoin companies like Coinbase led to the crypto rally as investors saw greater accessibility and recognition of crypto, especially after the passage of the GENIUS Act, as beneficial to their future potential.