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Bitcoin is heading close to the $100,000 mark for the first time, after hitting the latest in a series of record highs.

The world’s largest cryptocurrency has jumped to around $97,902 in early trading, meaning it has surged by 132% so far this year.

Meanwhile, Bitcoin is inching closer to a monumental $100,000 milestone, driven by mounting confidence that President-elect Donald Trump’s administration will usher in a crypto-friendly era.

Speculators rally behind the narrative, fueling a frenzy as the digital asset edges toward an unprecedented valuation.