Australian money is pouring into Bitcoin, which hit another record high on Friday, swelling the market capitalisation to $US160 billion.

The cryptocurrency was fetching $7044 ($US5452) on Friday afternoon, up 75 per cent in under 30 days.

The extreme price recovery has emerged in the face of powerful headwinds; China recently banned Initial Coin Offerings [ICO] - a type of internet crowdfunding, Russia pledged to ban Bitcoin exchanges and there is another impending Bitcoin fork.

But a key theme underpinning the extreme price action is the widespread adoption by mainstream investors, curious at the blockchain innovation and seduced by the recent price surge.