Bitcoin broke the US$100,000 (S$134,195) for the first time on Dec. 5 (Singapore time).
The price was at US$101,114 (S$135,689) as of Thursday, 10:50am.
The jump in price has pushed Bitcoin's market cap to US$2.7 trillion (S$3.62 trillion), and allowed the combined crypto market to creep to US$3.86 trillion (S$5.18 trillion).
The world's biggest and best-known cryptocurrency has been on a tear since this year's low of US$38,505 (S$51,814) in late January.
It is up 155 per cent year-to-date, and up about 45 per cent in the two weeks after Donald Trump won the presidential election.
Trump's victory has fuelled expectations that his administration will create a friendly regulatory environment for cryptocurrencies.
A host of other factors have pushed the price up: A variety of spot bitcoin exchange-traded funds (ETFs) have hit Wall Street, as well as expectations of Federal Reserve interest rate cuts.
The latest bulk of optimism from traders and those in the industry can be attributed to a perceived friendliness to cryptocurrency by the incoming Trump administration.
Trump's top team was reportedly meeting with bitcoin and crypto experts and industry executives to discuss creating a White House role dedicated to cryptocurrency policy, overseeing policy and regulation across the federal government, Bloomberg reported, citing anonymous sources.
There was talk that Trump could appoint the first-ever White House "crypto czar".
This will add to the expectations that Trump could create a U.S. bitcoin strategic reserve.
This would see him follow through on promises made during a July bitcoin conference to make the U.S. the "crypto capital of the planet".
Top photo via Unsplash
