New York (CNN Business) Boosted by a weaker dollar and fresh enthusiasm for cryptocurrencies, bitcoin surged past $10,000 for the first time in a year.

The cryptocurrency is known for its volatile price swings. Between late 2016 and 2018, investors watched as bitcoin soared from just a few hundred dollars to more than $20,000, before plunging back down.

Then, late Friday, it reached the $10,000 mark for the first time in over a year, according to Coinbase.

Bitcoin owes its latest ascension to a weaker dollar and Facebook's new digital currency, Libra.

Digital currencies also got a nod this week from Fed Chairman Jerome Powell and Bank of England Governor Mark Carney, who indicated that central banks should look at bitcoin and other crytpocurencies with an open mind.

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