Bitcoin climbed toward US$40,000 ($53,368.40) in a rally that helped the market value of digital tokens scale a new peak.

The largest cryptocurrency rose as much as 4.3% to US$39,499 on Feb 6, taking it closer to early January’s record of almost US$42,000. The value of more than 6,000 tokens tracked by CoinGecko hit an unprecedented US$1.22 trillion.

The jump comes after another volatile week in cryptocurrencies marked by Elon Musk’s support for Bitcoin and a record runup in Ether, the second-largest token. Billionaire Musk also posted tongue-in-cheek tweets about Dogecoin -- a Shiba Inu-themed unit that began as a joke -- stirring buying that briefly drove its market capitalisation past US$6 billion.

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