$BTC

Bitcoin surges past $107,000 on hopes for US strategic reserve

Bitcoin and crypto are catapulted into the spotlight as investors wager that Trump will usher in friendlier US rules for crypto.

Bitcoin’s record rally topped $107,000 after United States President-elect Donald Trump reiterated that he plans to create a US Bitcoin strategic reserve similar to the country’s strategic oil reserve, stoking the enthusiasm of crypto bulls.

Bitcoin, the world’s biggest and best-known cryptocurrency, extended gains to a session high of $107,148 and was most recently at $106,877, up 5.43 percent from late Friday. The number two digital currency, Ethereum or Ether, was up 1.85 percent at $3,975.70.