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Bitcoin has doubled this year, up 40% since US election

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Trump, pro-crypto Congress seen clearing regulatory clouds

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Crypto-related stocks surging

(Updates price in headline and paragraph 2 with break of

$96,000)

SINGAPORE, Nov 21 (Reuters) - Bitcoin's march toward

$100,000 made further ground on Thursday as investors bet a

friendlier U.S. regulatory approach to cryptocurrencies under

President-elect Donald Trump will unleash a boom era for the

asset class.

Bitcoin prices topped $96,000 for the first time in

Asia trade, touching a high just above $96,898.

The cryptocurrency's price has more than doubled this year

and is up about 40% in the two weeks since Trump was voted in as

the next U.S. president and a slew of pro-crypto lawmakers were

elected to Congress.

"While it's now firmly into overbought territory, it is

being drawn toward the $100k level," said IG Markets analyst

Tony Sycamore.

Trump embraced digital assets during his campaign, promising

to make the United States the "crypto capital of the planet" and

to accumulate a national stockpile of bitcoin.

More than $4 billion has streamed into U.S. listed bitcoin

exchange-traded funds since the election. This week, there was a

strong debut for options on BlackRock's ETF, with call

options - bets on the price going up - more popular than puts.

Crypto-related stocks have been soaring along with the

bitcoin price and shares in bitcoin miner MARA Holdings ( MARA )

were up nearly 14% overnight, while MicroStrategy ( MSTR ), a

loss-making software company that has been buying bitcoin, rose

10% to take its market capitalisation beyond $100 billion.

"Many are wondering if this administration will bring the

regulatory clarity the crypto community has been waiting for.

It's likely too soon to say," said Will Peck, head of digital

assets at WisdomTree, a global exchange-traded fund issuer.

"We see all of this excitement as bullish not only for

bitcoin or crypto broadly, but the entire blockchain-enabled

ecosystem that is growing today."