| ReutersBitcoin, the world’s largest cryptocurrency, soared past $107,000 on Monday, marking a historic milestone. The rally comes amid renewed discussions around a potential U.S. strategic Bitcoin reserve, an idea recently endorsed by President-elect Donald Trump. The prospect has fueled excitement among crypto enthusiasts, likening the plan to the country’s existing strategic oil reserves.
Investors also cheered news of MicroStrategy’s inclusion in the Nasdaq 100, which is expected to attract fresh capital to the company. Known for holding one of the largest Bitcoin treasuries among publicly traded firms, MicroStrategy’s strengthened position is seen as a boost for institutional Bitcoin adoption.
In 2024 alone, Bitcoin has surged by over 150%, pushing the total cryptocurrency market value to a staggering $3.8 trillion. The sharp rise reflects growing global confidence in the adoption of digital currencies as a legitimate asset class.
Still, some analysts remain cautious about the feasibility of a strategic Bitcoin reserve, noting that implementation would require significant planning and bipartisan support. Federal Reserve Chair Jerome Powell recently likened Bitcoin to gold but urged investors to proceed with caution in the volatile crypto space.
The $107,000 milestone highlights the shifting dynamics of the cryptocurrency market and underscores the growing influence of government policies. As Bitcoin continues to reach new heights, investors are closely monitoring developments that could shape its long-term trajectory.
