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Bitcoin Surging With Pro Crypto Administration
Dec 18, 2024 | Wealth Management

Bitcoin Surging With Pro Crypto Administration

Bitcoin surged past $107,000, hitting an all-time high following President-elect Donald Trump's pledge to create a U.S. bitcoin strategic reserve, mirroring the oil reserve system. This announcement, combined with the inclusion of Bitcoin-focused company MicroStrategy in the Nasdaq 100, fueled market optimism. 

 

Bitcoin rose over 50% since the November U.S. election, while Ethereum also saw gains. Trump, who has shifted to a pro-crypto stance, hinted at plans to establish the U.S. as a global crypto leader, naming crypto-friendly officials to key regulatory positions. 

 

Despite enthusiasm, analysts caution that implementing a bitcoin reserve could face significant delays and complexities. 


Finsum: Bitcoin's value has soared over 150% this year, reflecting increasing investor confidence in its regulatory and market potential.

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