The S&P 500 and Nasdaq reached fresh record highs on Thursday, powered by continued strength in chip stocks as optimism over AI-driven demand overshadowed concerns about escalating tariffs. As of 2:07 p.

Bitcoin hit a new all-time high on Thursday, alongside the Nasdaq Composite and tech giant Nvidia.The oldest and largest cryptocurrency traded as high as $113,853.97, a day after breaking its previous record set in May,

Bitcoin topped the $118,000 level for the first time, surpassing Thursday’s record as it continued to gain from its increasing adoption by companies as a reserve asset and lawmakers passing pro-crypto legislation.

Bitcoin has reached an all-time high, surpassing $118,000 as a flood of money moves into spot bitcoin ETFs, which have opened up cryptocurrency investing to millions. A soft U.S. dollar and the digital currency friendliness of President Donald Trump's administration has also helped to push the price of bitcoin to unprecedented levels recently.