The price of Bitcoin hit a new all-time high price on Wednesday according to crypto exchange Coinbase, which shows a new peak of about $112,055 as of about 3:55pm ET.

Coinbase's previous high mark was $111,891, set in May. The price of Bitcoin surged rapidly Wednesday afternoon in the minutes leading up to the new mark.

Editor's note: This story is breaking and will be updated with new information.

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