Bitcoin jumped to a record high above $106 000 after US President-elect Donald Trump said he planned to create a strategic reserve of Bitcoin in the US, similar to the strategic oil reserve.
Reuters writes about this.
Bitcoin, the largest and most famous cryptocurrency in the world, reached a high of $106 533, and as of 8:00 AM, it had dropped to $105 000.
“We are in blue sky territory
Bitcoin and cryptocurrency have been in the spotlight as investors bet that the new Trump administration will create a more favorable regulatory environment that will improve sentiment around alternative currencies. Bitcoin is up 192% year-to-date.
“We’re going to do something big with cryptocurrency because we don’t want China or anyone else to [get ahead of us] — not just China, but others are embracing it — and we want to be at the forefront,” Trump said in an interview with CNBC.
Asked if he planned to create a cryptocurrency reserve similar to oil, Trump said: "I think so."
According to CoinGecko, as of July, governments around the world owned 2.2% of the total supply of Bitcoin, with the United States owning nearly 200 000 Bitcoins worth over $20 billion at current exchange rates.
For more news and in-depth stories from Ukraine please follow us on X.