Bitcoin Hits Record $107,000 as Trump Signals Strategic Reserve Plans

The cryptocurrency surge follows President-elect Trump's pro-crypto stance and speculation about a U.S. Bitcoin reserve.

Bitcoin reached an all-time high of over $107,000, marking a 150% increase in 2024, driven by optimism about a pro-crypto regulatory environment under President-elect Trump.
Trump has reiterated plans to explore a U.S. Bitcoin strategic reserve, potentially modeled after the Strategic Petroleum Reserve, though implementation details remain uncertain.
Market analysts are divided on whether such a reserve would require Congressional approval or could be initiated via executive order using seized Bitcoin holdings.
The Federal Reserve's upcoming interest rate decision is expected to bring market volatility, with a likely 25-basis-point cut being closely watched by investors.
The global cryptocurrency market capitalization has nearly doubled in 2024, reaching $3.8 trillion, while other assets like gold and equities have also posted significant gains this year.