The price of Bitcoin is now closer to $US100,000 than zero.

After flirting with $US50,000 late Tuesday (Australia time), the king of the cryptocurrencies smashed through historic mark around 5pm on Wednesday – and then kept on going.

Close to lunchtime BTC had been trading for over $US52,000 ($67,000) for about six hours, having gained 6.1 per cent in the last 24.

With the bulls firmly in control, crypto buffs were taking to their favourite medium to celebrate: Twitter.

Venture capitalist and tech billionaire Tim Draper thinks Bitcoin’s move higher is just beginning.

2. James Todaro poked fun at the Motley Fool’s announcement it would buy $US5 million worth of Bitcoin

3. The Crypto Dog says this is just the beginning.

4. The best time to buy Bitcoin was in 2010. The second best time is… now?

5. Blackrock has $8.6 trillion in assets under management.

6. This seems like as valid a way to calculate a price target as some of the others.

7. Another method

8. Institutional money incoming in 3 … 2 … 1…

9. Putting things in perspective

10. The sky … or maybe the moon?

Altcoins also gaining

The broader crypto market was also solidly in the green, with just Dogecoin (down 8.7 per cent) and Cosmos (down 2.9 per cent) the major coins losing ground over the last 24 hours.

Ethereum was changing hands for just under $US1900 ($2,425) on Australian exchange the Independent Reserve at lunchtime, up 6.8 per cent in the last day.

On Kraken, Monero was up 18.8 per cent to $US270 ($348), and Icon had soared 19.3 per cent to $1.95 ($2.51).