Bitcoin Rises to New Record High as Corporate Interest Expands

Bitcoin hit a record high Wednesday, moving in lockstep with a rally in US equities as investors pushed deeper into risk-taking territory across world markets.

The cryptocurrency rose past $123,500 on Wednesday evening in New York, topping the previous all-time high of $123,205.12 reached on July 14. The milestone came soon after S&P 500 closed at its own record for a second consecutive session, extending a summer run that has carried the benchmark to repeated highs.