In a massive rebound from a 20 percent plunge last week, surged Sunday to a record high above $11,700.

The digital currency hit an all-time high of $11,773.83, up 8 percent on the day, according to CoinDesk. That's 30.5 percent, or nearly $2,753, from a low of $9,021.85 hit Thursday.

The rapid recovery is the latest in bitcoin's wild swings. The cryptocurrency had crossed the closely watched $10,000 figure Tuesday and topped $11,000 Wednesday, only to drop more than $1,000 in a few hours amid high trading volume that exchanges initially struggled to keep up with.

Bitcoin one-week performance

Source: CoinDesk

On Monday, Nov. 27, former Fortress hedge fund manager Michael Novogratz predicted on CNBC's " " that But Novogratz said Tuesday at CoinDesk's Consensus Invest conference that cryptocurrencies like bitcoin are

Bitcoin trading in Japanese yen accounted for about 58 percent of trading volume, while U.S. dollar-bitcoin trading accounted for about 23 percent, according to CryptoCompare.

The bitcoin offshoot, bitcoin cash, also jumped nearly 13 percent Sunday, to $1,606.06, according to CoinMarketCap. Digital currency rose more than 3.5 percent to $480, CoinMarketCap showed.

Bitcoin's rapid gains mean that twins Cameron and Tyler Winklevoss, founders of the Gemini digital currency exchange, are likely the first well-known bitcoin billionaires. The twins together had . With bitcoin above $11,700, that holding is now worth just over $1 billion.

A representative for the Winklevoss twins did not immediately respond to a CNBC request for comment.