#cryptonews
Bitcoin (BTC) has maintained its strong bullish momentum and surged to a new all-time high of $84,390, bolstered by Donald Trump’s recent US Presidential election win.
It is worth mentioning that the Trump’s victory, along with the election of pro-crypto figures in Congress, has revived hopes for a more favorable regulatory environment in the United States, where investors believe fewer restrictions will likely open doors for growth and innovation in digital assets.
At the moment, the US government holds about 208,109 BTC, worth around $16.57 billion. This commitment could stabilize the market by reducing the risk of oversupply, with many hoping it may soon push Bitcoin closer to the $100,000 milestone.
During his campaign, Donald Trump promised to recognize Bitcoin as a strategic asset for the US and hinted that the government would become a long-term BTC holder.
This strong jump is due to growing confidence in the market after Donald Trump’s recent election win, with his promises to strengthen the U.S. role in digital assets.
As we mentioned above, Bitcoin recently reached a new all-time high of $84,400, pushing its total market value over $1.6 trillion.
Bitcoin Hits Record Highs Amid Institutional Investments and Post-Election Optimism
Overall, Bitcoin ETFs attracted $1.34 billion in new investments, with companies like Fidelity and ARK 21Shares also seeing large inflows. Donald Trump’s win, especially in important states like Arizona, has increased excitement. Investors are hopeful about his plan to create a Bitcoin reserve for the U.S., which could encourage more people to use crypto.
The rise also shows strong interest from big investors, like BlackRock’s Bitcoin Trust (IBIT), which raised $1.1 billion in one day.
This excitement has helped boost the entire crypto market, which now has a total value of $2.71 trillion, showing strong interest from both big investors and the public.
Copper.co’s Head of Research believes Bitcoin could reach $100,000 by Trump’s inauguration on January 20, thanks to growing investments in Bitcoin ETFs.