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On Tuesday, Bitcoin (BTC-USD) surged to approximately $92,500 per token, nudging closer to its all-time highs.
The cryptocurrency has experienced a significant rise since the Presidential election on November 5, previously reaching a peak of over $93,400 last week.
Bitcoin has played a pivotal role in the ‘Trump trade,’ as President-elect Donald Trump has indicated intentions to adopt crypto-friendly strategies, including plans for a national bitcoin reserve.
This upward movement follows a report from the Financial Times revealing that Trump Media & Technology Group (DJT) is in advanced negotiations to acquire a cryptocurrency trading firm (BKKT), a partnership that could promote further developments within the industry.
Additionally, Bitcoin proxy stock MicroStrategy (MSTR) achieved new record highs on Tuesday. The software firm acquired 52,000 tokens for its holdings in the past week—its largest cryptocurrency buy to date. So far this year, MicroStrategy has seen a 500% increase.
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