Bitcoin’s market value exceeds $1tn after price soars

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Cryptocurrency heading for a weekly gain of 14% and up by 60% in February

Bitcoin hit a new high on Friday, giving it a market value of more than $1tn for the first time.

Bitcoin rose 6.4% during trading on Friday to reach an all-time high above $55,000, and was on track for a weekly gain of about 14%.

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