The notoriously volatile cryptocurrency touched a high of $10,293 (£7,319) on Friday as confidence rallied after a series of shocks that saw prices plummet below $6,000 (£4,267) earlier this month.
The stabilisation of the beleaguered digital token above the psychological barrier of $10,000 came after the vice-chairman of Warren Buffett's investment firm Berkshire Hathaway spoke out against it.
Speaking at the annual meeting of the US publishing firm Daily Journal in Los Angeles, Charles Munger said: “I never considered for one second having anything to do with it. I detested it the moment it was raised. It’s just disgusting. Bitcoin is noxious poison.”
Adding that he thought the cryptocurrency was "totally asinine", he called for US government action to crack down on bitcoin - similar to measures taken in China.
“Our government’s more lax approach to it is wrong. The right answer to something like that is to step on it hard,” he said.
Bitcoin's recovery follows weeks of turbulence as the value of bitcoin rose and plummeted in cycles that left investors on the edges of their seats.
The cryptocurrency hit a record high in mid-December as prices soared to $19,850 (£14,310) - but tumbled in the first month of 2018.
It finally plummeted to $6,000 (£4,325) in early February as a series of high-profile thefts and fears of regulation demolished its gains.
South Korea recently barred people from trading bitcoin and other cryptocurrencies anonymously, but said it is not planning to ban digital currency exchanges.
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Meanwhile, Theresa May hinted that the UK government may introduce similar measures, while the US government has fretted over the cryptocurrency's popularity with criminals.
The European Central Bank this week however ruled out a ban on cryptocurrencies, saying such a move would not be in its remit.
