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's bull run continues. The cryptocurrency rose as high as $118,739.86 on Friday, according to CoinDesk data, notching a new intraday high for a third straight day. Bitcoin recently stood a little lower,

Bitcoin rose above $113,000 on Thursday, its second all-time-high in less than 24 hours. Investors are looking ahead to "crypto week" in Washington next week.