By Justin Harper
Business reporter, BBC News
Publishedduration1 hour agoimage copyrightGetty Images
Bitcoin, the world's best-known cryptocurrency, has jumped above $17,000 (£12,800) to hit a three-year high.
The digital currency has suffered plenty of wild price swings since it was launched in 2009.
But investors have been flocking to cryptocurrencies during the pandemic-driven volatility on global stock markets.
However, experts have cautioned about viewing them as a "safe haven".
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On Wednesday, Bitcoin had climbed more than 7% to $17,891, its highest level since December 2017.
Some analysts said the Covid-19 pandemic has encouraged investors to reassess the long-term outlook for Bitcoin and other cryptocurrencies.
But there are still concerns about the fraudulent trading in cryptocurrencies following a succession of high-profile hacks.