Bitcoin is up just over 6 percent against the dollar to around $71,600, the highest price since June 1. However, this is still a long way from last year's record price of just over $124,700 per bitcoin.
This week's rally gained momentum when the US Treasury Department - after a period of rapidly rising long-term interest rates - announced on Wednesday that it would double the repurchases of bonds with maturities of 10-30 years in what is described as a liquidity measure.
The upturn for the sector is underway as President Donald Trump gathered leading players in the crypto industry at the White House on Thursday.
