MOSCOW, May 21. /TASS/. The price of Bitcoin has hit a fresh all-time high as it rose above $109,600, demonstrating its record growth over the past year, according to Binance platform data. Since November 2024, when its rapid growth started, the cryptocurrency beat record 38 times.

As of 7:38 p.m. Moscow time (4:38 p.m. GMT), the Bitcoin price was up by 4.15% at $109,678.

By 8:00 p.m. Moscow time (5:00 p.m. GMT), the price of the cryptocurrency had narrowed gains to 3.83% as it traded at $109,343.

On January 20, the cryptocurrency beat its previous record, surpassing $109,588.

Bitcoin is a cryptocurrency invented in 2008 by an unknown person or a group of people using the name Satoshi Nakamoto. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without intermediaries.