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Bitcoin hits new record high of $11,850

FILE PHOTO: A logo of Bitcoin is seen on an advertisement of an electronic shop in Tokyo, Japan September 5, 2017. REUTERS/Kim Kyung-Hoon/File Photo

LONDON (Reuters) - Bitcoin powered to a record high of $11,850 on Tuesday, continuing its surge from below $1,000 at the start of the year.

The cryptocurrency was last up 2 percent on the Luxembourg-based Bitstamp exchange BTC=BTSP.

Reporting by Dhara Ranasinghe; Editing by Jamie McGeever

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