Bitcoin has hit a new all-time high, surpassing $123,000 on Monday. This marks a sharp rise from $108,000 just a week ago.

Bitcoin hit another record on Monday, marking another milestone for the world's largest cryptocurrency as investors bet on long-sought policy wins.

Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.