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. Last month the Senate passed legislation that would regulate a form of cryptocurrency known as stablecoins, the first of what the industry hopes will be a wave of bills to bolster its legitimacy and reassure consumers.