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It comes as the Federal Reserve is expected to go ahead with a rate cut next week, rumors that Trump may use Bitcoin as a US reserve asset from “day one” and more.
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Bitcoin’s price rallied over 3.2% to set a new all-time high above $105,000 on Dec. 15 as speculation of it becoming a United States reserve asset continues to grow.
Bitcoin (BTC) topped out at $105,100 but has since fallen slightly to $104,850, TradingView data shows. Its previous high was $104,000, which was set on Dec. 5.
It is now up nearly 20% over the last month and 55.5% since the US presidential election on Nov. 5.
Bitcoin’s change in price over the last 24 hours. Source: TradingView
Bitcoin’s price has also now stayed above the $100,000 mark since Dec. 13 at around 5:00 pm UTC.
It comes as Strike founder and CEO Jack Mallers said US President-Elect Donald Trump could issue an executive order designating Bitcoin as a reserve asset on his first day in office.
“There’s potential to use a day-one executive order to purchase Bitcoin,” Mallers stated, adding:
“It wouldn’t be the size and scale of 1 million coins but it would be a significant position.”
Related: Trump may use Bitcoin as US reserve asset on ‘day one’ — How high will BTC price go?
Trump will be inaugurated on Jan. 20.
Asset managers Bitwise and VanEck expect Bitcoin’s price to soar to the $180,000 to $200,000 range in 2025 — with or without a US strategic Bitcoin reserve in place.
Magazine: AI may already use more power than Bitcoin — and it threatens Bitcoin mining
This article first appeared at Cointelegraph.com News
