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Bitcoin (BTC-USD) jumped to trade near $92,500 per token on Tuesday as the token inched its way closer to all-time highs.
The cryptocurrency has surged since the Presidential election on November 5, touching a record north of $93,400 last week.
Bitcoin has been a key component of the ‘Trump trade’ as President-elect Donald Trump has promised crypto-friendly policies, including the creation of a bitcoin national stockpile.
The move higher also comes on the heels of a Financial Times report stating that Trump Media & Technology Group (DJT) is in advanced talks to acquire a crypto trading company (BKKT), a tie-up that could further encourage initiatives within the sector.
Bitcoin proxy stock MicroStrategy (MSTR) touched new record highs on Tuesday. The software company added 52,000 tokens to its portfolio over the past week — its largest purchase of the cryptocurrency yet. Year-to-date MicroStrategy is up 500%.
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