The price of Bitcoin reached $107,000, once again updating its all-time high, as evident from trading data. This happened after US President-elect Donald Trump confirmed his plans to create a “strategic bitcoin reserve,” Reuters writes.
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At its high in the last 24 hours, Bitcoin was trading at $107.77 thousand. At the time of this publication, the cryptocurrency was worth $106.54 thousand with a capitalization of $2.12 trillion, having increased its price by 3.5% in the last 24 hours.
The currency set another record after Trump confirmed his plans to create a “strategic bitcoin reserve” in the United States, Reuters noted. The rise in Bitcoin value was also influenced by the inclusion of the first cryptocurrency company, MicroStrategy, in the Nasdaq-100 index.
Bitcoin surged 150% in 2024 amid investor expectations that the future US government will create a more favorable regulatory environment for the industry, Reuters reported. The next figure investors are expecting is $110,000, says Tony Sycamore, an analyst at financial firm IG.
Bitcoin surpassed its previous limit of $106,000 on December 16. The price of the cryptocurrency began to rise in early November from around $68,000 amid the US presidential election.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
