The price of bitcoin crossed the $9,000 threshold Sunday for the first time in more than a year.


BTCUSD, +0.99%

  peaked around $9,385 in intraday trading, according to Coindesk. The cryptocurrency slipped in afternoon trading, and was last around the $9,000 level.

The digital currency is up more than 22% over the past 30 days, and up 142% year to date. Sunday’s intraday prices were the highest for bitcoin since May 2018, though still well off its all-time high above $19,000 in late 2017.

Investors have been bullish on bitcoin recently, with optimism stoked by the expected announcement this week that Facebook Inc.

FB, +2.18%

 will launch a new cryptocurrency, backed by a number of major companies, including Visa Inc.

V, +0.18%

 , PayPal Holdings Inc.

PYPL, +0.39%

  and Uber Technologies Inc.

UBER, -2.44%

 . The new coin, reportedly to be called Libra, would allow users to make purchases around the internet, not just Facebook.

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Bitcoin’s rise has boosted the wider crypto market, with rival digital currencies such as ethereum

ETHUSD, +0.85%

 , bitcoin cash

BCHUSD, +0.87%

  and litecoin

LTCUSD, +0.14%

  also posting significant gains over the past week.



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