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Bitcoin hits new record high of more than $106,000

The world's largest cryptocurrency has risen by more than 50% since Donald Trump's election victory.

Bitcoin has surged to a new record high, extending a rally that has seen the cryptocurrency's price rise by more than 50% since Donald Trump's victory in the 5 November election. Trump has also said he would nominate pro-cryptocurrency Washington attorney Paul Atkins as the new head of the Wall Street regulator, the Securities and Exchange Commission (SEC). Trump had previously revealed plans to sack Mr Gensler on "day one" of his new administration after the SEC chairman took legal action against cryptocurrency firms, sparking controversy in some quarters.

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