Bitcoin powers above US$106,000 for first time on US strategic reserve hopes
The Straits Times|December 17, 2024
Bitcoin surged to a record high above US$106,000 on Dec 16, after US President-elect Donald Trump suggested he plans to create a US Bitcoin strategic reserve similar to its strategic oil reserve.

Bitcoin, the world's biggest and best known cryptocurrency, hit a high of US$106,533 and last traded up 3.2 per cent to US$104,462.

Smaller crypto Ether rose 1.5 per cent to US$3,965.

"We're in blue sky territory here," said Mr Tony Sycamore, an analyst at IG. "The next figure the market will be looking for is US$110,000.

The pullback that a lot of people were waiting for just didn't happen, because now we've got this news." "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 told CNBC late last week.

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Bu hikaye The Straits Times dergisinin December 17, 2024 sayısından alınmıştır.

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