Bitcoin’s price has exceeded $107,000, setting a new all-time high.

The surge is primarily driven by President-elect Donald Trump’s proposal to create a U.S. Bitcoin Strategic Reserve, modeled after the Strategic Petroleum Reserve.

This proposal indicates a potential shift towards a more cryptocurrency-friendly approach by the incoming administration.

Since Trump’s election, Bitcoin’s value has increased by 50%.

The total cryptocurrency market capitalization has doubled, surpassing $3.8 trillion. $BTC