Bitcoin breaks above $25,000 to set new record highs

Bitcoin has jumped above $25,000 for the first time, setting new price all-time highs.

Data from Coinbase shows the price of the world's largest cryptocurrency by market capitalization has increased by more than 2% over the past 24 hours to break above $25,000.

It's changing hands at $25,241 as of press time. 

Meanwhile, bitcoin's market capitalization is now above $467 billion, according to data from CoinGecko.

In early trading hours on December 26 UTC time, bitcoin's price briefly touched the exact level of $25,000 for a few times on Coinbase but was quickly rejected.