Bitcoin powered to a record high just below $11,800 on Sunday, continuing its surge from below $1,000 at the start of the year.

The cryptocurrency, which trades 24 hours a day seven days a week, climbed as high as $11,799.99 on the Luxembourg-based Bitstamp exchange at around 9 p.m. Sunday.

It was not clear what caused the move higher over the weekend other than new investors joining the upstart market, with so-called wallet-providers reporting record numbers of sign-ups over the past week.