Trump’s strategic reserve proposal and MicroStrategy’s Nasdaq 100 entry fuel bullish momentum of Bitcoin and other crypto markets.
Bitcoin Hits Record High Amid Strategic Reserve Buzz
Bitcoin soared past $107,000 on Monday, driven by optimism surrounding President-elect Donald Trump’s proposal for a U.S. bitcoin strategic reserve. Investors cheered the plan, which echoes the nation’s strategic oil reserve, as Trump reiterated his intent to position the U.S. as a global crypto leader.
MicroStrategy’s Nasdaq Milestone Adds to Market Optimism
Investor sentiment also spiked after MicroStrategy, the largest corporate holder of bitcoin, was added to the Nasdaq 100 index. This development is expected to draw increased institutional investment into the crypto sector.
Strategic Reserve: Vision or Hurdle?
Governments globally hold 2.2% of bitcoin’s supply, with the U.S. leading the pack at 200,000 BTC worth over $20 billion. However, Federal Reserve Chair Jerome Powell and other skeptics warn that implementing such a reserve could face significant challenges.
Crypto Bulls Eye Next Milestone
Bitcoin has gained over 50% since Trump’s election victory and is up 150% in 2024, reflecting growing confidence in the U.S. adopting pro-crypto policies. Analysts suggest the rally could extend to $110,000 as market momentum builds.
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