Bitcoin prices jumped 1.5% Wednesday to an all-time high of $108,671.62. The cryptocurrency has been climbing since a recent low set in early April, when investors were selling all types of risky assets during the height of President Trump's trade war.

The price of bitcoin has risen above $110,000 for the first time in its history, after surging nearly 50 per cent since April. The record-breaking rally takes the cryptocurrency above its previous all-time-high of just over $109,000, which it reached in January.

While people in the crypto space celebrated Bitcoin Pizza Day, the crypto king price shot up hitting a new all time high of $111,889.