Bitcoin surged past $106,000 in early Asian trading on Monday, setting a new record. The world’s largest and most recognized cryptocurrency was last seen trading at $105,688.
“We’re in uncharted territory now,” said Tony Sycamore, an analyst at IG. “The market's next target will likely be $110,000. The pullback many expected hasn’t materialized, and this news has only fueled further gains.”
In a recent interview, President-elect Donald Trump expressed his plans for the U.S. to take a leadership role in the cryptocurrency space. “We’re going to do something great with crypto,” Trump said. “We don’t want China or anyone else, not just China, but others, to dominate it. We want to lead.” When asked if he was considering creating a crypto reserve similar to the U.S. Strategic Petroleum Reserve, Trump replied, “Yes, I think so.”
Putin's Criticism of the Dollar and Growing Interest in Crypto
Earlier this month, Russian President Vladimir Putin questioned the need for state reserves in foreign currencies, suggesting that investing such reserves domestically would be more beneficial. He also criticized the U.S. administration for using the dollar as a political tool, which he claims is diminishing its role as the global reserve currency. This has led many countries to explore alternative assets, including cryptocurrencies. “For example, Bitcoin—who can prohibit it? No one,” Putin stated.
Bitcoin’s Meteoric Rise and Market Growth
Since Trump’s election victory and the success of other pro-crypto candidates in the November 5 elections, Bitcoin has surged more than 50%. According to CoinGecko, the overall value of the cryptocurrency market has nearly doubled this year, reaching a record high of $3.8 trillion.
In another significant development, Nasdaq announced on Friday that MicroStrategy, one of the largest corporate investors in Bitcoin, will be added to the Nasdaq-100 Index. The company’s stock has soared more than sixfold this year, pushing its market value close to $94 billion, making it the largest corporate holder of Bitcoin globally.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for 20th July, covering the latest developments you need to know....
Bangladesh has signed a deal to import 700,000 tonnes of wheat annually from the United States over the next five years, aiming to ease trade tensions and secure tariff relief from the Trump administration, officials confirmed on Sunday.
Iran and the E3, Britain, France, and Germany, may hold nuclear talks next week, Tasnim reported, amid European warnings that failure to resume negotiations could trigger renewed international sanctions.
Iran has replaced air defence systems damaged during last month’s conflict with Israel, according to a report by Iran’s Defah Press news agency on Sunday, citing Mahmoud Mousavi, Deputy for Operations of the regular army.
A tsunami warning was issued on Sunday after a sequence of strong earthquakes, including a powerful 7.4-magnitude tremor, struck off the Pacific coast of Russia, the United States Geological Survey (USGS) confirmed.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Israeli researchers have unveiled an artificial intelligence tool that can determine a person’s true biological age from tiny DNA samples with remarkable precision.
Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
Two Harry Potter actresses, Emma Watson and Zoe Wanamaker, have each received a six-month driving ban after separate speeding offences, both sentenced on the same day at a Buckinghamshire court.
The Shanghai Cooperation Organization’s foreign ministers met in Tianjin on 15 July, laying the groundwork for the upcoming SCO summit set for the end of August.
Bangladesh has signed a deal to import 700,000 tonnes of wheat annually from the United States over the next five years, aiming to ease trade tensions and secure tariff relief from the Trump administration, officials confirmed on Sunday.
Iran and the E3, Britain, France, and Germany, may hold nuclear talks next week, Tasnim reported, amid European warnings that failure to resume negotiations could trigger renewed international sanctions.
Iran has replaced air defence systems damaged during last month’s conflict with Israel, according to a report by Iran’s Defah Press news agency on Sunday, citing Mahmoud Mousavi, Deputy for Operations of the regular army.
A tsunami warning was issued on Sunday after a sequence of strong earthquakes, including a powerful 7.4-magnitude tremor, struck off the Pacific coast of Russia, the United States Geological Survey (USGS) confirmed.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 20th July, covering the latest developments you need to know.
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