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Bitcoin Surpasses $107,000 as Trump Weighs Strategic Reserve, Market Cap Eyes $15 Trillion

Dec 16, 2024, 10:45 AM

Bitcoin has surged to a new all-time high, surpassing $107,000, driven by President-elect Donald Trump's support for digital assets and plans to establish the United States as a leader in the cryptocurrency sector. Trump's consideration of a 'Strategic Bitcoin Reserve' via an executive order on his first day in office, as suggested by Jack Mallers, CEO of Strike, has fueled optimism in the market. There is speculation about a potential $15 trillion market cap, with some predicting Bitcoin's price could reach $800,000. MicroStrategy's inclusion in the Nasdaq 100 has also contributed to the positive sentiment. Additionally, Bitcoin's price has increased over 20% in the last month, and the Bitcoin-to-gold ratio has hit an all-time high. Anticipation of Federal Reserve rate cuts is further bolstering investor confidence.