How can Elrond live so long?

I'm genuinely puzzled. Could you enlighten me on the matter? How exactly does Elrond manage to live such an extended lifespan? Is it due to some sort of elfin magic or potion? Or perhaps, does his ancestry hold the key to this mystery? I've always been fascinated by the longevity of elves in Tolkien's works, and Elrond's lifespan particularly intrigues me. Could you please explain the reasons behind his exceptional lifespan?