Bitcoin has gained such a high value due to its high demand and its demand has increased high as people found it to be worth the investment as its supply is limited and it being totally out of the reach of the hands of government.Also people found it that it could not be hacked by anyone unless we reveal the private keys of the wallet in which it is stored.

People are already fed up with government's currencies which are subject to deflation and also as bitcoin earrings could not be taxed directly, most people found it as a safe haven unwilling to pay the huge percentage of taxes.

Also payments could be sent to anyone at low transaction fees and so when people found a bunch of useful factors in a single currency, they just didn't want to miss it.