Bitcoin has topped its previous all-time high, climbing above $112,000 per bitcoin as Tesla billionaire Elon Musk confirms wild bitcoin rumors.

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The bitcoin price has surged over the last year, climbing thanks to a perfect storm of U.S. president Donald Trump’s embrace of crypto and Wall Street piling into bitcoin spot exchange-traded funds (ETFs)—with a “huge” BlackRock ETF bombshell suddenly appearing on the horizon.

Now, as traders eye “trillions and trillions” of dollars that some think could be about to flow into bitcoin…