Bitcoin reached a record high of $106,533 after President-elect Donald Trump suggested creating a U.S. cryptocurrency reserve, similar to the country’s strategic oil reserve. The cryptocurrency rose 3.2% in one day, while ether increased by 1.5%, boosting confidence in the market.
Trump’s strong support for cryptocurrencies, including appointing crypto advocates like David Sacks and Paul Atkins to key positions, has fueled this surge. The global cryptocurrency market is now valued at $3.8 trillion, with Bitcoin up 192% this year.
However, experts warn that creating a national bitcoin reserve would be a complex and unprecedented challenge, involving technical, economic, and regulatory hurdles.