Bitcoin is making headlines again, hitting an all-time high of $96,600, fueled by optimism around its future in the U.S. The cryptocurrency surged 4.96% on Thursday, reaching $96,653 early in Asia, with speculators eyeing the $100,000 mark.
Adding to the excitement, Donald Trump’s team is reportedly discussing a new White House position dedicated to cryptocurrency policy. The proposed role could provide direct access to the president-elect, who has shifted from being a crypto skeptic to one of its biggest supporters.
The discussions come as the digital asset market sees significant momentum. MicroStrategy, the largest corporate holder of Bitcoin, plans to accelerate its purchases with a $2.6 billion convertible senior note offering. The company, now known as a Bitcoin treasury firm, holds around $31 billion worth of asset.
The overall crypto market has seen an $800 billion boost since Trump’s election win on November 5, according to CoinGecko. Advocates believe Bitcoin’s six-figure price could solidify its reputation as a modern store of value, despite criticism linking it to illicit activities.
Analysts say demand for Bitcoin is strong. “Buyers are strangling the sellers,” said IG Australia’s Tony Sycamore. However, he cautioned that the journey to $100,000 may not be smooth.
Trump’s pro-crypto stance includes plans for a supportive regulatory framework and even a strategic Bitcoin reserve for the U.S. While details remain unclear, his shift aligns with heavy lobbying from digital-asset firms during the election.
With rising interest from both governments and major corporations, Bitcoin’s role in the global economy continues to grow, captivating supporters and skeptics alike.
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