Bitcoin makes record high after surging above $5,000

One Bitcoin is now worth $5,000. On Thursday, the virtual currency spiked more than 8 percent and traded as high as $5,188. It gained over 70 percent over the past one month and was traded at less than $650 just a year ago. But how did the alternative currency become so successful? One theory floating around is that trading the currency could result in China following a crackdown on domestic exchanges. A second theory has it that investors' confidence boosted once Bitcoin split into two, creating the cheaper offshoot called Bitcoin Cash.