Bitcoin jumps to record high

NEW YORK/SINGAPORE — Bitcoin rallied to an all-time high on Friday, powered by demand from institutional investors and crypto-friendly policies from U.S. President Donald Trump's administration. The world's largest cryptocurrency rose to a peak of US$116,781.10 in the Asian session on Friday, taking its gains for the year so far to more than 24%. It was last trading at $116,563.11. "Bitcoin's new all-time high is being driven by relentless institutional accumulation – major players are scooping up supply and drying up liquidity on exchanges," said Joshua Chu, co-chair of the Hong Kong Web3 Association. In March, Trump signed an executive…