Bitcoin nears $100,000 on optimism over Trump crypto plans

MG News | November 21, 2024 at 10:15 AM GMT+05:00

0:00

November 21, 2024 (MLN): Bitcoin closed in on the historic $100,000 mark as traders bet President-elect Donald Trump’s friendlier US regulatory approach to cryptocurrencies would be good for the industry.

The largest token jumped over 3% to a record $97,550 as of 10:14am. It is up about 40% in the two weeks since Trump won the US elections and has surged 131% so far this year.

The Republican candidate has vowed to put the US at the center of the digital-asset industry, including creating a strategic Bitcoin stockpile.

Traders have piled over $4 billion into US listed bitcoin exchange-traded funds since the election.

Meanwhile, MicroStrategy, the largest publicly traded corporate holder of Bitcoin, continues to accelerate token purchases.

The company holds about $31bn stockpile of Bitcoin and has announced further plans to purchase $2.6bn via sales of convertible senior notes.

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