Bitcoin topped the $118,000 level for the first time, surpassing Thursday’s record as it continued to gain from its increasing adoption by companies as a reserve asset and lawmakers passing pro-crypto legislation.

This week, bitcoin hit a new all-time-high (above $118K) on the back of strong ETF flows and at least $280 million in new bitcoin treasury investments.

Bitcoin has traded in a tight range for several weeks despite billions of dollars flowing into bitcoin exchange traded funds.

Bitcoin hitting a record, an industry-boosting US president whose family is venturing headlong into the sector, and key legislation widely expected to be passed by Congress.