Bitcoin reached a new milestone on December 15, 2024, briefly exceeding $106,000, continuing a surge that began after Donald Trump’s re-election as U.S. President. Since the November 5, 2024 election, Bitcoin’s price has increased by over 50%. By December 16, it slightly dropped to around $104,500 in Asian markets.
The price increase is attributed to Trump’s pro-Bitcoin policies. The former president has expressed support for Bitcoin, declaring the U.S. could become the “capital of Bitcoin.” His administration, which includes Bitcoin advocates like Elon Musk, has further fueled investor confidence in the cryptocurrency.
Additionally, Trump recently proposed creating a U.S. digital currency reserve, similar to the strategic oil reserve. This could strengthen Bitcoin’s role in the global economy and enhance its value. Despite market volatility, Bitcoin’s future looks increasingly influenced by political factors, including Trump’s policies.
