The price of bitcoin has risen above $12,000 for the first time.

According to CoinDesk’s Bitcoin Price Index (BPI), the price of the world’s largest cryptocurrency by market capitalization is trading at $12,201.67 at press time. This represents a gain of just over $500 since the day’s open and a gain of more than 4 percent overall.

The move above $12,000 also notably pushes bitcoin’s market capitalization beyond $200 billion for the first time, the BPI shows.

As previously reported, markets had been eyeing the $12,000 earlier today when the price of bitcoin traded between $11,400 and $11,800.

And, as might be expected, exchanges in South Korea – which were the first to cross the $10,000 line late last month – are trading above $14,000, according to data from CoinMarketCap (though those markets are denominated in the won, South Korea’s national currency).

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