Bitcoin surged above $3,000 to reach a new all-time high over the weekend, less than a week after a split that worried some investors.

Bitcoin BTCUSD, -1.58% peaked Saturday at a record $3,360.87, according to CoinDesk.com. By Sunday, the cryptocurrency had settled down to $3,286.87, with a market cap of $53.4 billion, according to Coinmarketcap.com. Saturday marked the first time bitcoin surpassed $50 billion in market cap.