Bitcoin hits record high above $106,000 on hopes of U.S. strategic reserve
From Investing.com
December 16, 2024 4:06:03 AM:
Bitcoin reached a record high above $106,000 after Trump hinted at a U.S. bitcoin strategic reserve. The cryptocurrency hit $106,533, up 3.1% at $104,493. Investor sentiment is up, boosted by MicroStrategy’s inclusion in the Nasdaq-100 Index. Bitcoin is up 192% this year as investors anticipate a friendlier regulatory environment under Trump’s administration.
Governments worldwide hold 2.2% of bitcoin’s total supply, with the U.S. holding nearly 200,000 bitcoins valued at over $20 billion. Other countries like China, UK, Bhutan, and El Salvador also hold significant amounts of bitcoins. Russian President Putin mentioned that the U.S. administration’s use of the dollar for political purposes is pushing countries towards alternative assets, including cryptocurrencies.
Trump’s support for crypto has surged, with the total value of the cryptocurrency market reaching over $3.8 trillion. MicroStrategy has seen its shares rise six-fold this year, becoming the largest corporate holder of bitcoin. Nasdaq announced that MicroStrategy will be added to the Nasdaq-100 Index before Dec. 23. Investors are anticipating a rally in MicroStrategy’s shares and more bitcoin purchases.
Read more at Investing.com: Bitcoin surges above $106,000 on strategic reserve hopes By Reuters