फ़रवरी 6, 2025

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Bitcoin surges

Bitcoin surges

Bitcoin Surges Past $106,000 Amid Strategic Reserve Speculation

Bitcoin has hit an all-time high, passing $106,000, as speculation about U.S. President-elect Donald Trump’s plan to create a strategic Bitcoin reserve fuels the market. The cryptocurrency peaked at $106,533 before stabilizing at $104,462, representing a 3.2% daily gain. Ethereum also gained momentum, trading at $3,965.

This rise is fueled by investor optimism with regards to the future pro-crypto stance by the administration and hints of Trump into building a Bitcoin reserve analogous to the Strategic Petroleum Reserve. This can be taken within the general interest building worldwide in reserve of crypto. China, for one, has accumulated enormous stockpiles of Bitcoins as have El Salvador.

According to analysts, it would legitimize Bitcoin as a strategic asset and give the currency an impetus to attract further interest from institutional investors. According to experts, however, putting such a policy in place would require time and also face challenges related to logistics. This year so far, Bitcoin has increased by 192%. Cryptocurrency has surged past $3.8 trillion.