ALBAWABA - Bitcoin, the first decentralized cryptocurrency, reached a new record today by surpassing $106,000 for the first time ever in history today.
Bitcoin sets a new record
Bitcoin recorded a surge at $106,000 for the first time ever in history on Monday. This significant surge follows statements from US President-elect Donald Trump, who proposed the idea of creating a US strategic reserve for Bitcoin, similar to the country’s strategic oil reserve.
The popular cryptocurrency reached a record high of $105,688 ten days ago and recorded another notable peak today at $106,000.
Bitcoin surged following statements from US President-elect Donald Trump, who proposed the idea of creating a US strategic reserve for Bitcoin, similar to the country’s strategic oil reserve. (Shutterstock)
Tony Sycamore, an analyst at IG, stated: “We're in blue sky territory here. The next figure the market will be looking for is $110,000. The pullback that a lot of people were waiting for just didn't happen, because now we've got this news."
Trump remarks
Upon winning the US presidential election, Trump promised to establish a Bitcoin reserve and support the growth of the US Bitcoin mining sector.
“If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the US government currently holds or acquires into the future,” Trump stated previously.
Last week, Trump proposed the concept of creating a US Bitcoin reserve. “We're gonna do something great with crypto because we don't want China or anybody else - not just China but others are embracing it - and we want to be the head," Trump stated, as reported by CNBC.
