Bitcoin surged to a new all-time high, breaking the $99,000 mark early Friday morning (PKT). The cryptocurrency reached a record $99,261 before stabilizing around $99,500 for several hours. By 9:25 AM, Bitcoin had slightly cooled to $99,000.

At 9:35 AM, Bitcoin was trading at approximately $98,990, marking a 2.54 percent increase. As of the latest update, Bitcoin boasts a fully diluted market cap of $2.08 trillion, with 19.78 million coins in circulation.

This year, Bitcoin has aggressively doubled in value, rising about 40 percent in the two weeks following the U.S. elections earlier this month. Investors are optimistic about the increased adoption of cryptocurrencies worldwide, particularly with figures like Donald Trump as the U.S. president.

It’s noteworthy that in 2022, Bitcoin fell below $16,000 but has since gained over $80,000 in value. The flagship cryptocurrency’s meteoric rise over the past two years has been bolstered by institutional investors and key regulatory measures from multiple governments worldwide.