WASHINGTON, Oct 5— Bitcoin, the world's largest cryptocurrency by market value, hit a record high on Sunday and was up nearly 2.7% at US$125,245.57 (RM527,033) at 0512 GMT.
Bitcoin's previous record was US$124,480 (RM523,811) in mid-August, buoyed by friendlier regulations from United States (US) President Donald Trump's administration and strong demand from institutional investors.
The cryptocurrency had risen on Friday for an eighth straight session, bolstered by recent gains in US equities and inflows into bitcoin exchange-traded funds.
In contrast, the US dollar retreated on Friday, posting multi-week losses against major currencies, as uncertainty surrounding a US government shutdown clouded the outlook and delayed key data releases like payrolls, which are critical for gauging the economy's direction.
