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

The digital currency rose more than 4.5 percent to hit an all-time high of $2,061.88, according to Bitcoin was last trading near $2,047.

Japan accounted for nearly 55 percent of trade volume, up from near 40 percent Thursday, according to

Prices for bitcoin on the Hong Kong-based Bitfinex exchange rose, narrowing a recent gap with the global rate in anticipation that bitcoin traded on Bitfinex can soon be easily converted to U.S. dollars.