Bitcoin hits record high of over $94,000 as market value surpasses $3 trillion

Bitcoin has reached a new all-time high of over $94,000, driven by reports that Donald Trump's media company is considering acquiring crypto firm Bakkt. This marks a significant increase, with Bitcoin more than doubling in value throughout 2024. The cryptocurrency market's total value has surpassed $3 trillion, reflecting growing optimism about a potential crypto-friendly administration under Trump. The surge follows the recent U.S. elections, where traders anticipate less restrictive regulations for digital assets. Bitcoin briefly hit $94,078 before settling at $92,104 in early Asian trading. Analysts note that the excitement around Trump's potential support for cryptocurrencies has contributed to this upward trend.