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Bitcoin hits $106,000, up over 50 percent since Trump's victory

2024-12-16 07:57:14Kosova&Bota SHKRUAR NGA REDAKSIA VOX
Bitcoin hits $106,000, up over 50 percent since Trump's victory
Donald Trump

Bitcoin has set a new record in just a few weeks, surging more than 50 percent since Donald Trump's election victory on Nov. 5. The world's largest cryptocurrency briefly topped $106,000 before falling to around $105,000 in Asian trading on Monday.

The incoming Trump administration is seen as much more cryptocurrency-friendly than Joe Biden's. On Thursday, the US president-elect reiterated that he is considering creating a national stockpile of digital currency, similar to the country's strategic oil reserve.

Peter McGuire from trading platform XM.com said Bitcoin's growth has been brisk.

"Many investors believe that $120,000 could be reached by the end of the year and then in 2025 there is talk of more than $150,000 by mid-year."

Earlier this month, Trump appointed Silicon Valley entrepreneur David Sacks to manage Artificial Intelligence (AI) and cryptocurrency.


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