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Reading: Bitcoin Surges Past $105,000 on U.S. Strategic Reserve Fund News
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PhotoNews Pakistan > Business > Bitcoin Surges Past $105,000 on U.S. Strategic Reserve Fund News
Business

Bitcoin Surges Past $105,000 on U.S. Strategic Reserve Fund News

Web Desk
By Web Desk Published December 16, 2024 1 Min Read
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President Elect Donald Trump, featuring Bitcoin and US flag. Photo Credits: CryptoState
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Bitcoin’s value soared to a record-breaking high of over $105,000 early Monday in Asian markets, continuing its upward trajectory since Republican Donald Trump was elected U.S. president.

Trump’s pro-cryptocurrency stance has significantly influenced the recent gains of digital currency.

The cryptocurrency reached an all-time peak of $105,142 and was last seen trading around $104,666. This surge is largely attributed to weekend reports that President Trump is set to move forward with a Bitcoin strategic reserve fund, a step seen as a major endorsement of cryptocurrency.

BREAKING: $105,000 #Bitcoin pic.twitter.com/CYqR06jGC3

— Watcher.Guru (@WatcherGuru) December 15, 2024

Tony Sycamore, an analyst at IG, provided insights on the momentum: “We’re in blue sky territory here,” he noted. Sycamore states the market’s next milestone is likely the $110,000 mark.

BREAKING: #Bitcoin surges to $105,000 for the first time in history, now worth a record ~$2.1 trillion.

Bitcoin is now ~10% away from being bigger than Google by market cap. pic.twitter.com/toRKYlBlE3

— The Kobeissi Letter (@KobeissiLetter) December 15, 2024

The Trump administration’s introduction of a Bitcoin strategic reserve fund could solidify the cryptocurrency’s standing in financial markets, potentially leading to widespread adoption and stability. Such a move is expected to bolster investor confidence and could pave the way for more governmental and institutional acceptance of Bitcoin and other cryptocurrencies.

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