Bitcoin surpassed $95,000 for the first time during Asian trading on Thursday, fueled by investor expectations of a potentially more favorable regulatory approach to cryptocurrencies under President-elect Donald Trump.
At around 01:24 GMT, the world’s largest cryptocurrency by market capitalization broke this threshold, reaching a new record of $95,004.50.
Bitcoin, which has risen by approximately 35% since Donald Trump’s victory on November 5, then moderated its gains in the following minutes and was trading at $94,907 by 01:45 GMT.
Among the measures anticipated for the cryptocurrency sector is the creation of a strategic Bitcoin reserve in the United States, primarily consisting of tokens seized by the justice system, which could encourage other countries to give more legitimacy to this virtual currency.
To build this reserve, the U.S. government would commit to no longer selling the Bitcoins it already holds, mostly seized during judicial proceedings.
The President-elect has also promised to drastically ease regulations on the digital currency sector, asserting that he would make the U.S. “the global capital of Bitcoin and cryptocurrencies.”
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