The digital currency is up 90% this year, outpacing stocks, gold and other assets

A Bitcoin Change shop in Istanbul; a renewed surge of interest in bitcoin appears to be tied to its potential as a hedge against inflation.

While stocks, oil and gold prices careened last week, one asset set new highs for the year: bitcoin.

The price of the digital currency has surged about 90% in 2020 and traded as high as $13,848 on Tuesday, according to CoinDesk. That is the highest level since January 2018, when bitcoin was coming down from its record high of $19,783 set in the previous month.