Bitcoin surges above US$106,000 on strategic reserve hopes

Quick Summary:

BITCOIN surged to a record high above $106,000 in early Asian trade on Monday, boosted by comments from President-elect Donald Trump that suggested he plans to create a U.S.bitcoin strategic reserve similar to its strategic oil reserve.

Bitcoin, the world's biggest and best known cryptocurrency, hit a high of $106,533 and last traded at $105,688.

There are skeptics though, with Federal Reserve Chair Jerome Powell likening bitcoin to gold earlier this month.

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Category: EconomyBusiness

Markets: MalaysiaChina

Topics: Crypto Cryptocurrency Ether /Business/Business News Donald Trump Strategic reserve Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-16 @ 09:40:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 482 words

Reading Time: 3 minutes read

Sentences: 26 lines

Sentence Length: 19 words per sentence (average)

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Copyright Owner: © The Star

News ID: 24423818

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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