Bitcoin Surpasses $94,000 Milestone for the First Time

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        SINGAPORE: Bitcoin's value soared past the $94,000 barrier following reports that the social media endeavor owned by Donald Trump may acquire the crypto trading company called Bakkt. This has fueled anticipations of a crypto-accommodating administration with President Trump's entry.
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        As the most well-known and widely utilized cryptocurrency worldwide, Bitcoin has witnessed its worth more than double in the present year. Recently, the price was at $92,104 during Asia's trading hours, having ascended to an all-time peak of $94,078 in the latter part of the preceding session. 
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        Trump Media and Technology Group, associated with the Truth Social platform, is speculated by The Financial Times—based on inputs from knowledgeable individuals—to be nearing a stock-based acquisition of Bakkt, which has investment from Intercontinental Exchange, the New York Stock Exchange's parent company.
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        According to Tony Sycamore from IG, a financial analyst, Bitcoin's leap in value is bolstered not just by chatter around the Trump deal but also by investors engaging with BlackRock's Bitcoin ETF, which recently launched options trading on the Nasdaq.
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        Since the US elections on November 5, cryptocurrencies have seen a dramatic spike, with investors wagering on Trump's presumed backing for digital assets to usher in a laxer regulatory stance. This would potentially revitalize Bitcoin, which had been experiencing a relatively sluggish phase.
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        Chris Weston of Australian brokerage Pepperstone emphasizes the genuine, potent demand for Bitcoin, asserting that any further surge might incite more individuals to invest in what appears to be a burgeoning trend.
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