Bitcoin knocked a new record high amid growing demand from Japan, China

Bitcoin rise above $ 2,000 for the first time on Saturday on growing demand from Japanese and Chinese investors.

Digital currencies rose more than 4.5 percent to reach an all-time high of $ 2,061.88, according to CoinDesk.com. Bitcoin is last traded near $ 2,047.

Japan accounts for nearly 55 percent of trading volume, up from close to 40 percent on Thursday, according to CryptoCompare.com.

The price for bitcoin at Hong Kong-based Bitfinex exchange increased,  narrowing the recent gap to global levels in anticipation that bitcoin  trade in Bitfinex could soon be converted to U.S. dollars.

Chris  Burniske, lead block product manufacturer analyst at investment manager  ARK Invest, exemplifies on Twitter that the difference between China  and U.S. exchanges. For the price of digital currency narrowed from the difference of 20 percent to 5 percent in just a week.

Bitcoin surged close to $ 1,900 Thursday amid reports of a possible political scandal in the US. And Brazil that send merchants looking for safe assets. Some analysts believe that a fluctuating digital currency can sometimes compete with gold as a security trade. Gold futures rose more than 2 percent last week to settle at $ 1,253.60.

Analysts also noted a higher interest in bitcoin due to several key key crypto conferences in New York this past two weeks.

The  market capitalization of cryptocurrency has generated more than $ 5  billion in the past week to $ 33.5 billion on Saturday, according to  CoinDesk.com.