nanceSeason Breaking: Bitcoin hits new record high$BTC 👇👇

Investing.com - Bitcoin rose on Tuesday, extending recent gains and briefly hitting record highs on continued optimism about the possibility of creating a strategic reserve under incoming U.S. President Donald Trump.

Cryptocurrency markets also cheered the addition of MicroStrategy to the Nasdaq 100 index, though overall gains were tempered in anticipation of this week’s Federal Reserve meeting.

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Bitcoin was up 1.9% at $106,623.5 by 00:25 ET (05:25 GMT). The world’s largest cryptocurrency hit a record high of $107,767.6 earlier on Tuesday.

Bitcoin’s rally fueled by Trump’s talk of

Bitcoin’s recent rally largely came after Trump raised the possibility of creating a strategic reserve for bitcoin, similar to the government’s oil reserve, during an interview with CNBC last week.

The Justice Department holds about 200,000 bitcoins, most of which have been confiscated from criminals. That stockpile could also be converted into a reserve, though it’s unclear how that would work.