Bitcoin breaks through $0.1 million5000 mark, boosted by Trump's strategic reserve comments.

Trump's future U.S. president's supportive stance on cryptocurrencies boosts market sentiment
Inflow of $15 billion into USA Bitcoin and Ethereum ETFs since the U.S. election

December 16, 2024, 10:04 AM GMT+9

Cryptocurrency Bitcoin reached over 3% higher at the $105,000 level in Asia on the 16th, setting a new record high. An encouraging factor was Trump, the incoming U.S. president, showing support for virtual currencies, hinting at the idea of a Bitcoin strategic reserve similar to strategic petroleum reserves.
Bitcoin temporarily expanded its gains to the $106,500 level.
Former President Trump said on CNBC over the weekend, "Not only China but other countries are also accepting cryptocurrencies. And we want to be at the forefront." When asked if there are plans to establish a system like the Strategic Petroleum Reserve for Bitcoin, he replied, "I think so."
IG analyst Tony Sycamore stated, "The market is expecting the next target to be $110,000. The anticipated bounce did not occur because new news came out."

Since former President Trump's victory in the November presidential election, Bitcoin has surged more than 50%.

The cryptocurrency industry has donated over $119 million to support congressional candidates who are supportive of the industry. In addition, on the 5th of this month, former U.S. President Donald Trump announced the nomination of David Sachs, former CEO of the major payment service PayPal (PYPL.O), as the White House's Artificial Intelligence (AI) and cryptocurrency czar.