Bitcoin hits new all-time high

The world's largest cryptocurrency by market cap, Bitcoin, hit a new all-time high on Wednesday.

According to U.S.-based virtual currency exchange Coinbase, the price of a single Bitcoin was trading at 112-thousand-55 U.S. dollars at 3.55 PM Eastern Standard Time, up over three percent from 24 hours prior.

It marks the first time the cryptocurrency surpassed the 112-thousand mark, shattering the previous high of 111-thousand-900 dollars set on May 22nd.