Cryptocurrency Bitcoin is currently trading at an all-time high, more than doubling the value it reached during the 2017 "Lamborghini bubble".
At the time of publishing, Bitcoin was valued at just under $60,500 per coin.
To give that context, during the peak of currency in late 2017 Bitcoin hit a high of around $27,900 per coin.
Why is Bitcoin booming?
There are a number of reasons why Bitcoin is booming, but all of them circle back to one reason: legitimacy.
Once seen as the domain of cybercriminals and software engineers, Bitcoin is gaining legitimacy as an alternative currency that is not tied to any one nation state or government.
The biggest recent factor is the one-time world's richest man in Elon Musk.
Earlier this week Musk's auto company Tesla announced it would soon accept Bitcoin as payment for its cars, effectively legitimising the currency as a valid form of trade.
"Tesla ... has de-risked the acquisition of #bitcoin by public companies and accelerated the digital transformation of corporate balance sheets," tweeted MicroStrategy CEO Michael Saylor, a Bitcoin advocate.
"Treasurers are now thinking about how to convert a non-performing asset into the best performing asset."
There are a number of other reasons why Bitcoin is gaining ground amongst institutional investors.
Bitcoin has inbuilt scarcity of just 21 million coins, meaning once all the coins are "mined" they will simply continue to go up in value (if they are used, theoretically).
Much of it is about risk: Bitcoin is infamous for its volatility. If a business accepts Bitcoin as a payment, there is a very real possibility that the same payment could be worth a dramatically different amount even weeks later.
Explained: What is Bitcoin?
1. Bitcoin is a form of online cryptocurrency that allows money to be transferred electronically. It's decentralised, which means no-one regulates or controls it except for market demand.
2. It was created by a group (or a single person) of programmers under the pseudonym "Satoshi Nakamoto" in 2009.
3. Bitcoins are "mined" by computers that solve incredibly complex mathematical equations. Like coal or oil, there is a limited number of Bitcoins available to be mined, estimated to be in the ballpark of 21 million.
4. You cannot mine Bitcoin on your home computer, it requires specialised programs and hardware that have increased the difficulty of mining a Bitcoin.
5. Bitcoin experienced a dramatic explosion in value in late 2017, before it experienced one of the most catastrophic value crashes ever seen in currency.
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