The crypto market is experiencing a feverish year-end as Bitcoin has just hit a record high of nearly $108,000 and is currently holding steady around $107,000. This bullish sentiment has been bolstered by pro-crypto remarks from President-elect Donald Trump following the US election. In particular, his pledge to create a strategic reserve for Bitcoin has sparked speculation about a more open policy towards cryptocurrencies. The market reaction has been one of growing institutional support for digital assets, with Exodus Movement being approved for listing on the NYSE American.
The launch of PENGU, a token for the Pudgy Penguin ecosystem, along with a significant upgrade from Avalanche, also highlights strong activity in the cryptocurrency space. However, volatility is likely to emerge due to the upcoming Federal Reserve decision on interest rates and traditional market behavior during the year-end holiday season. Important economic reports and several token-related events are also pending, signaling a lively phase ahead for the cryptocurrency market.
European Commissioner Sarah Knafo has called on the European Union to create a strategic reserve for Bitcoin, while opposing the adoption of a "digital euro" - a type of central bank digital currency being developed by the European Central Bank (ECB). In a speech at the European Parliament, Knafo emphasized the importance of Bitcoin's decentralization and criticized the ECB for what she sees as excessive and authoritarian management efforts.
The commissioner compares Europe's approach to cryptocurrency management with other regions, pointing out the success of Bitcoin in El Salvador and the supportive stance from the newly elected government in the U.S. Knafo calls for a shift away from regulations and taxes that stifle innovation, while proposing actions to protect citizens from inflation and poor economic decisions.
