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Bitcoin hit $105,100 on Dec. 15, smashing its previous record as speculation swirls around President-Elect Donald Trump’s potential plan to designate the cryptocurrency as a US reserve asset. Bitcoin’s value has risen 20% this month, maintaining its position above $100,000.
Bitcoin Surges Past $105K Amid Reserve Asset Speculation
As speculation around the possibility of Bitcoin becoming a reserve asset for the United States continues to develop, the price of Bitcoin increased by more than 3.2% on December 15 to reach a new all-time high above $105,000.
TradingView data reveals that Bitcoin reached its highest point of $105,100, but it has subsequently experienced a little decline to $104,850. The previous high, which was reached on December 5th, was $104,000 to begin with.
Over the past month, it has increased by over 20%, and it has increased by 55.5% since the presidential election in the United States on November 5.
Since the 13th of December, at approximately 5:00 pm UTC, the price of Bitcoin has further maintained its position over the $100,000 threshold, Cointelegraph shares
Trump’s Potential Executive Order on Bitcoin Sparks Market Optimism
The announcement comes at a time when Jack Mallers, founder and CEO of Strike, has stated that President-elect Donald Trump of the US could issue an executive order classifying Bitcoin as a reserve asset on his first day in office.
In his statement, Mallers included the following: "There’s potential to use a day-one executive order to purchase Bitcoin."
“It wouldn't be the size and scale of 1 million coins but it would be a significant position."
On the 20th of January, Trump will first take office.
Bitcoin Price Could Skyrocket to $200,000 by 2025, Experts Say
The asset managers Bitwise and VanEck anticipate that the price of Bitcoin will skyrocket to the range of $180,000 to $200,000 in the year 2025, regardless of whether or not a strategic Bitcoin reserve is established in the United States.
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