Business Desk 
Dec 16, 2024
Demonstrating strides towards breaking all historical records and setting new ones, Bitcoin on Monday rose past an all-time high of $106,000.
The astonishing surge comes on the heels of President-elect Donald Trump disclosing plans to create a US Bitcoin strategic reserve like the existing one for strategic oil reserve, spurring euphoria among crypto bulls.
The world's biggest and most prominent cryptocurrency hit a record high of $106,533 and last traded at $104,462, up 3.2% from the mark it was during the earlier session.
The Bitcoin surge was followed by ether, a smaller cryptocurrency, which ascended 1.5% to $3,965.
"We're in blue sky territory here. The next figure the market will be looking for is $110,000. The pullback that a lot of people were waiting for just didn't happen, because now we've got this news," said an IG analyst Tony Sycamore.
As noted by Reuters, the integration of MicroStrategy into the tech-heavy Nasdaq 100 index also propelled investor sentiment. The inclusion is likely to prompt more inflows as the software firm turned Bitcoin buyer.
Bitcoin as well as other cryptocurrencies have emerged into the spotlight as investors gamble on expectations tied to the Trump administration, suggesting the new political regime will bring a crypto-friendly environment.
