The price of Bitcoin, the largest cryptocurrency, hit a new all-time high of $75,080 at 3:08 UTC on the Bitstamp exchange.
It has since given up some gains, currently trading slightly above the $74,000 level.
The leading cryptocurrency has surged by more than 6% on Tuesday.
Bitcoin's previous record high was set back in March following the launch of various spot ETFs in the U.S.
The cryptocurrency's market cap is currently approaching $1.5 trillion.
