Those who purchased Bitcoins when they were still worth under $500 should have a field day withdrawing their funds right now as the digital currency recently blew past $1,000 in value. This is the first time that the controversial monetary unit reached such a high valuation in over three years, which puts it at the top of 2016’s best-performing currencies.

Bitcoin reached its highest value at $1,200 back in 2013, which set the standards of just how far and fast a form of currency could go, Phys.org reports. Now, the digital unit is close to clinching or even surpassing this number as it rocketed past the $1,000 ceiling on Sunday.

As to why this is even happening, it would seem that the recent global tremors have shaken some investors enough to think that they need to find a safe haven for their finances, and that’s what Bitcoin provided them with. Along with the shifts in geopolitical situations in certain Asian countries, the prospect of Russian interference in the recently-concluded U.S. elections, and the presidency of one Donald Trump, it’s no wonder that many are scrambling to secure their money.

On that note, some analysts are also saying that there has been a misleading trend of speculation with regards to the rise in the value of the digital currency. This might actually be more troublesome than the previous scenario since it’s inflating a bubble that can’t possibly be sustained.

There’s also the matter of zero-interest rates that might be concerning investors right now, as BTC China chief executive Bobby Lee told CNBC. Bitcoin simply provided a better opportunity for growth.

"We are seeing the aftermath of zero interest rates run amok. So bitcoin is a healthy reminder that we don't have to hold on to dollars or renminbi, which is subject to capital controls and loss of purchasing power. Rather it's a new asset class," Lee said.