According to the CoinMarketCap portal, Bitcoin’s value went up 5.43 percent to $49,605 at 04:22 GMT on Tuesday. Meanwhile Binance data showed that Bitcoin reached an all-time high of $49,998.

On Sunday, Bitcoin stalled short of the $50,000 mark, with its price surging past $49,700. However, on Monday, it slipped to $45,914 in Asian trading hours.

Bitcoin’s record-breaking rally is said to be driven by a global shift in investor and public attitudes towards crypto assets.

Last week, Bitcoin’s price skyrocketed as Elon Musk’s electrice vehicle company Tesla confirmed a $1.5 billion investment in the cryptocurrency in January.