On the U.S. cryptocurrency exchange Coinbase, the price per unit of Bitcoin was trading at $99,055 as of 2:15 p.m. ET, up 4.88% from 24 hours ago.
The price of bitcoin, which was below $70,000 earlier this month, has been hitting a record high since President-elect Donald Trump's presidential victory, which promised to "become a pro-Bitcoin president."
The rise was sparked by recent reports that Trump's transition team was discussing with the cryptocurrency industry whether to open a position dedicated to virtual currency policy at the White House.
If the White House has a job dedicated to virtual currency, it will serve as an opportunity to demonstrate the impact that the virtual currency industry will exert under the second Trump administration, Bloomberg reported.
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