Bitcoin continues to impress the global economy as its value surpassed $106,000. This surge is fueled by hopes for digital asset support from President-elect Donald Trump and the inclusion of MicroStrategy in the Nasdaq 100 Index.
Bitcoin Hits New Records
According to Bloomberg, Bitcoin rose over 3% in Monday Asian trading, reaching $106,493 and surpassing its previous peak. At the time of writing, the Bitcoin price stands well above $104,600, boosting sentiment across the broader crypto market.
Impact of MicroStrategy on the Market
The inclusion of MicroStrategy, a company heavily investing in Bitcoin, in the Nasdaq 100 also boosted the market. The company's strategy of large Bitcoin purchases has drawn Wall Street and institutional interest.
Role of Bitcoin ETF and Market Influence
Investment products tied to Bitcoin and Ethereum have also sustained momentum. US Bitcoin ETFs have seen $12.2 billion in net inflows since Trump's victory in November. Similar Ether-tracking products have drawn $2.8 billion.
The continued rise of Bitcoin is driven by a mix of political and economic factors. Support from regulators and large institutional investments create favorable conditions for further development of the crypto sphere.
