Analysis: Trump's desire to establish a strategic reserve of Bitcoin and other factors help BTC hit a new high
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Odaily reported that BTC Markets cryptocurrency analyst Rachael Lucas said, "Reaching a new all-time high is significant for Bitcoin, as it marks its development into a more mature asset class, reflecting Bitcoin's transition from a retail-driven asset to one supported by institutional demand, ETFs, and corporate bonds, which enhances its legitimacy." The analyst stated that there are several factors behind Bitcoin's surge past $106,000, including the recent statement by US President-elect Trump that he hopes to establish a strategic Bitcoin reserve and use cryptocurrency to do "some great things," as well as MicroStrategy's inclusion in the Nasdaq 100 and Riot's recent announcement of purchasing 5,117 BTC. Presto Research analyst Min Jung said, "The FOMC meeting this Wednesday will provide important insights into the Fed's potential for future rate cuts." Jung added that cryptocurrency prices are expected to be significantly impacted by announcements or developments related to Trump's inauguration in January next year. (The Block)
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