Bitcoin surges above US$106,000 on strategic reserve hopes

Bitcoin has surged more than 50 per cent since the November 5 election that saw Trump elected along with many other pro-crypto candidates

Sparks strike a representation of bitcoin in this illustration picture taken November 24, 2024. Photo: Reuters

Bitcoin surged to a record high above US$106,000 in early Asian trade on Monday, boosted by comments from president-elect Donald Trump that suggested he plans to create a US bitcoin strategic reserve similar to its strategic oil reserve.

Bitcoin, the world’s biggest and best known cryptocurrency, hit a high of US$106,533 and last traded at US$105,688.

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