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Bitcoin Hits Record $106,000, Market Cap Nears $2.1 Trillion Amid Pro-Crypto Speculation

Dec 15, 2024, 11:32 PM

Bitcoin surged to new all-time highs over the weekend, surpassing $106,000 for the first time in history. The cryptocurrency's price increased steadily, breaking previous records multiple times on December 15 and 16, 2024. It climbed above $102,000 in weekend trading, rose past $103,000—reaching $103,850 per unit on Bitstamp—crossed $104,000, then $105,000, and ultimately exceeded $106,000. The significant rally saw Bitcoin's value surge over 20% in the last month alone. Bitcoin's market capitalization has now reached approximately $2.1 trillion, bringing it within 10% of surpassing Google's market cap. The rally is fueled by speculation regarding President-elect Donald Trump's support for digital assets and his plans to establish the United States as a leader in the sector. Investors anticipate that his administration may create a favorable regulatory environment for cryptocurrencies and potentially back a national Bitcoin stockpile. The rapid price increase reflects growing investor confidence and increasing mainstream adoption of cryptocurrencies.