Bitcoin rose to a fresh record high in trading on Tuesday, responding to reports that Donald Trump's social network is in talks to buy cryptocurrency trading firm Bakkt, Reuters reports .

This has raised hopes for a crypto-friendly regime under the new administration.

Having surpassed the high seen last week, BTC has now touched a new record at $93,751. On Wednesday, the digital currency was trading around $92,350.

Bitcoin, the largest and most famous cryptocurrency, has more than doubled this year.

The Financial Times, citing people familiar with the matter, reported that Trump Media & Technology Group , which runs Truth Social, is close to a full share purchase of Bakkt , which is backed by the NYSE owner.

IG market analyst Tony Sycamore noted that Bitcoin's rise to a record high was supported by reports of Trump's deal, as well as traders taking advantage of the first day of trading in Nasdaq options on BlackRock 's Bitcoin ETF .