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CoinBasecamp

Crypto News & Updates

biggest-bitcoin
Bitcoin News Business Latest News

Bitcoin’s Surge of over $106,000 could lead itto $150,000 by the end of 2025

Key Takeaways

  1. Bitcoin Hits Record High – Bitcoin surpassed $106,000, reaching a peak of $106,533 before closing at $104,512.
  2. Trump Hints at Crypto Reserve – Trump compared a potential Bitcoin reserve to the Strategic Petroleum Reserve, boosting market confidence.
  3. Global Crypto Interest Grows – Countries like the U.S., China, and Russia are exploring or holding significant Bitcoin reserves.

Bitcoin skyrocketed to a record high on Monday, fueled by speculation that President-elect Donald Trump may establish a U.S. Bitcoin strategic reserve.

The cryptocurrency touched an unprecedented $106,533 during the day before settling at $104,512, marking a 3% intraday gain. Ether, the second-largest cryptocurrency, also saw an increase of 1.5%, climbing to $3,941.

Trump Fuels Market Optimism

Market enthusiasm erupted following Trump’s comments during a CNBC interview, where he likened the concept of a Bitcoin reserve to the U.S. Strategic Petroleum Reserve. Trump declared, “We’re gonna do something great with crypto,” highlighting the importance of the U.S. taking a leadership role in the cryptocurrency space.

Investors were further encouraged by news of MicroStrategy’s upcoming inclusion in the Nasdaq-100, which is expected to draw institutional inflows and strengthen the cryptocurrency sector.

Pro-Crypto Policies Boost Sentiment

The surge in Bitcoin reflects growing optimism around Trump’s administration fostering a crypto-friendly regulatory environment. Since his November 5 election, Bitcoin has risen by over 50%, pushing the total cryptocurrency market valuation to nearly $3.8 trillion.

Trump’s support for crypto marks a significant shift from his earlier skepticism. His administration has already announced high-profile crypto-focused appointments, including:

  • David Sacks, a former PayPal executive, as the White House AI and Crypto Czar.
  • Paul Atkins, a pro-crypto attorney, nominated as the next SEC Chair.

Global Interest in Crypto Reserves

The concept of national crypto reserves is gaining traction globally. The U.S., China, and El Salvador have already accumulated significant Bitcoin holdings. Additionally, Russian President Vladimir Putin recently praised cryptocurrency for its resilience amid declining global confidence in the U.S. dollar.

Cautious Optimism

While excitement over a potential U.S. Bitcoin reserve runs high, analysts caution that implementing such a reserve would take considerable time. Despite this, Bitcoin bulls remain in control, with the market rallying around the idea of a U.S.-backed crypto reserve and its potential to transform the financial landscape.