Bitcoin Surges Past $100K as Trump's Crypto Moves Spark Investor Excitement

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13.12.2024 38 times read 0 Comments

Crypto Today: Bitcoin Price Surges and Trump's Firm Makes Strategic Moves

The cryptocurrency market has seen a significant surge, with the total valuation surpassing $3.5 trillion as of Thursday. This marks an increase of 9.4% since Tuesday's market crash was halted, according to FXStreet. Notably, President-elect Donald Trump hinted at adopting Bitcoin into a strategic reserve during his appearance at the New York Stock Exchange on Thursday. His cryptic response about supporting cryptocurrencies sparked positive reactions among investors.

World Liberty Financial (WLFI), backed by Trump, made headlines by acquiring Ethereum worth $5 million, boosting its ETH reserves above $50 million as reported by Arkham Intelligence via FXStreet. The acquisition suggests WLFI is positioning itself within the Decentralized Finance ecosystem while potentially hedging against anticipated US Dollar devaluation due to inflation concerns.

Bitcoin Rises Amid AI Data Center Rush and Crypto ETF Developments

Investor's Business Daily reports that Bitcoin recently surpassed the $100K milestone for the first time amid favorable conditions such as President-elect Donald Trump's pro-crypto stance and Federal Reserve Chairman Jerome Powell’s remarks comparing Bitcoin more closely with gold than with fiat currencies like the U.S. dollar.

This rally coincides with plans from crypto miner Hut8 to build a massive AI data center in Louisiana alongside Meta Platforms' largest planned facility announced earlier this month. Additionally, there are growing interests in crypto ETFs which provide exposure without directly holding volatile digital assets.

An analysis from Kaiko Research highlights global trends influencing cryptocurrency adoption across various regions including South Korea where unique regulatory structures create isolated markets leading to phenomena like "Kimchi Premium" pricing anomalies. Meanwhile, Japan remains cautious post-Mt.Gox collapse but shows strong demand for potential spot BTC ETFs if approved.

Brazil emerges as a leader in regulated crypto products, launching Latin America's first BTC & ETH ETFs back in 2021 through QR Asset Management; their pioneering efforts continue despite challenges faced elsewhere globally regarding similar financial instruments, per Kaiko Research insights shared online today!

Texas Lawmaker Proposes State-managed Bitcoin Reserve For Stability

A Texas lawmaker introduced legislation proposing state management over bitcoin reserves aimed towards enhancing fiscal stability amidst rising economic uncertainties nationwide, says a CryptoSlate article published December 13th detailing bill specifics filed under Republican Representative Giovanni Capriglione who seeks voluntary contributions rather than direct purchases initially envisioned here locally too! Supporters believe integrating payments could further solidify leadership roles held already given high concentration mining operations present throughout the region currently underway now...

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