Bitcoin rally propels cryptocurrency market value to fresh record

The largest cryptocurrency is up about 22% this week

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

The largest cryptocurrency rose as much as 5.6% to $39,959 on Saturday, taking it closer to early January’s all-time high of almost $42,000. The value of more than 6,000 tokens tracked by CoinGecko hit about $1.23 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 --