Dec 16 (V7N)- Bitcoin has reached an all-time high, breaking the $105,000 mark, driven by speculation surrounding pro-crypto statements from U.S. President-elect Donald Trump. In an interview with CNBC's Jim Cramer, Trump hinted at plans to establish a "strategic bitcoin reserve" akin to the U.S. strategic oil reserve.
"Making Crypto Great Again"
"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 remarked. Though details remain vague, the statement reflects a potentially significant policy shift that has electrified the market.
Market Reaction
The president-elect's comments, coupled with the inclusion of MicroStrategy—one of the largest corporate bitcoin holders—into the Nasdaq 100, have fueled bullish sentiment.
- Bitcoin Price: Climbed past $105,000, with speculators eyeing $110,000 as the next milestone.
- MicroStrategy Impact: The company's 425,000 bitcoin holdings, valued at approximately $45 billion, represent about 2% of bitcoin's market cap. Shares of MicroStrategy surged 6% in pre-market trading.
Crypto as a Key Player in the "Trump Trade"
Crypto markets have been a significant beneficiary of the broader "Trump trade," with investors anticipating relaxed regulatory oversight under the new administration. Trump's apparent enthusiasm for digital assets aligns with this expectation, further boosting confidence in the sector.
The Road Ahead
Bitcoin's rally underscores its growing importance in global finance, driven by both institutional adoption and geopolitical factors. If Trump's proposed crypto-friendly policies materialize, the sector may enter a transformative era of mainstream acceptance and innovation.
For now, all eyes are on whether Bitcoin can sustain its momentum and push toward $110,000.
END/RH/AJ
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