Bitcoin crossed a record high of $60,000 on Saturday morning, continuing its rally as major companies and financial institutions adopt cryptocurrencies.

Bitcoin, the world's biggest cryptocurrency, was at $60,415.34 as of 7:25 a.m. ET, according to Coinbase, recovering from a dip at the end of February that followed a previous record high that month.

The digital currency is up 963% over the last 12 months. Its value surpassed $1 trillion last week for the second time this year.

Bitcoin's rally is driven partly by increased adoption by larger institutional investors and firms and speculative demand. Tesla has purchased $1.5 billion worth of bitcoin and plans to accept the digital coin as payment for its products, a decision that sparked more widespread interest.

More in category

Cosmetics giant L'Oreal targets male beauty with push into 'growth engine' market
April 20, 2021CNBC
Cosmetics giant L'Oreal targets male beauty with push into 'growth engine' market
European Super League on the brink of collapse after widespread condemnation
April 20, 2021CNBC
European Super League on the brink of collapse after widespread condemnation
Asian markets slump on worsening coronavirus outbreaks
April 20, 2021MarketWatch
Asian markets slump on worsening coronavirus outbreaks
UiPath IPO: 5 things to know about the ‘software robots’ company valued at nearly $30 billion
April 20, 2021MarketWatch
UiPath IPO: 5 things to know about the ‘software robots’ company valued at nearly $30 billion
Stock-market sentiment shifts after investor euphoria pushed U.S. equities to record highs
April 20, 2021MarketWatch
Stock-market sentiment shifts after investor euphoria pushed U.S. equities to record highs
Exxon floats idea for $100 billion private-public carbon capture hub, largest of its kind
April 20, 2021MarketWatch
Exxon floats idea for $100 billion private-public carbon capture hub, largest of its kind
Opinion: There is a new normal for Netflix, and that is not necessarily a bad thing
April 20, 2021MarketWatch
Opinion: There is a new normal for Netflix, and that is not necessarily a bad thing
Get ready for the ‘reflation and reopening trade’ to kick into high gear, says JPMorgan’s top quant
April 20, 2021MarketWatch
Get ready for the ‘reflation and reopening trade’ to kick into high gear, says JPMorgan’s top quant
‘I don’t think this is a bubble at all in bitcoin…this is ‘the beginning of a mainstreaming of it’ says stock-market pro Bill Miller
April 20, 2021MarketWatch
‘I don’t think this is a bubble at all in bitcoin…this is ‘the beginning of a mainstreaming of it’ says stock-market pro Bill Miller
Overstock CEO says Coinbase, Robinhood are in its crosshairs as it builds out rival crypto trading venue
April 20, 2021MarketWatch
Overstock CEO says Coinbase, Robinhood are in its crosshairs as it builds out rival crypto trading venue
Opinion: High-momentum stocks have been losing steam and this could be signaling a market top
April 20, 2021MarketWatch
Opinion: High-momentum stocks have been losing steam and this could be signaling a market top
What is ‘Doge Day’? A push to drive dogecoin to the moon
April 20, 2021MarketWatch
What is ‘Doge Day’? A push to drive dogecoin to the moon
The cryptocurrency dogecoin began as a joke, and now it’s worth more than Ford
April 20, 2021MarketWatch
The cryptocurrency dogecoin began as a joke, and now it’s worth more than Ford
The pandemic may have permanently altered Apple’s path
April 16, 2021MarketWatch
The pandemic may have permanently altered Apple’s path
Apple launches $200 million forestry fund it says will bring financial return for investors
April 16, 2021MarketWatch
Apple launches $200 million forestry fund it says will bring financial return for investors
Home cooking, booze demand fire up global grocery sales in 2020 - report
April 20, 2021FOX Business
Home cooking, booze demand fire up global grocery sales in 2020 - report
3 Top Tech Stocks Under $20 Per Share
April 20, 2021The Motley Fool
3 Top Tech Stocks Under $20 Per Share
Happy 420: The unofficial holiday could spark $370 million in legal cannabis sales
April 20, 2021MarketWatch
Happy 420: The unofficial holiday could spark $370 million in legal cannabis sales
U.S. cannabis producers are now favored by Wall Street analysts, who’ve soured on Canadian companies
April 20, 2021MarketWatch
U.S. cannabis producers are now favored by Wall Street analysts, who’ve soured on Canadian companies
Business leaders weigh in as jury finds Derek Chauvin guilty
April 20, 2021FOX Business
Business leaders weigh in as jury finds Derek Chauvin guilty
Discord ends talks with potential buyers, including Microsoft
April 20, 2021MarketWatch
Discord ends talks with potential buyers, including Microsoft