Bitcoin surged past $50,000 for a short period Tuesday as more companies have expressed interest in the cryptocurrency in recent weeks.

Boosted by Tesla’s $1.5 billion investment last week, the most popularly traded cryptocurrency achieved its all-time high of $50,645 in value shortly after 7:30 a.m., according to data from the digital currency exchange Coinbase, before dropping down to around $49,000 later in the morning.