Bitcoin soared to an unprecedented US$107,148 at the week’s beginning, fueled by plans from US President-elect Donald Trump to establish a strategic Bitcoin reserve, along with the inclusion of MicroStrategy in the Nasdaq 100.
Recent reports highlight Trump’s vision for the US to spearhead a crypto transformation, appointing David Sacks to oversee AI and cryptocurrency initiatives, and proposing pro-crypto advocate Paul Atkins as head of the Securities and Exchange Commission.
Investors are hopeful for minimal regulatory intervention from the incoming administration. Since Trump’s election in November, Bitcoin’s value has climbed over 50%, elevating the total cryptocurrency market valuation to US$3.8 trillion, as reported by Reuters.