Donald Trump

Bitcoin

Metars Genesis

<p class="is-style-lead">Bitcoin reached an all-time high on Monday after institutional interest in the digital currency spiked as President-elect Donald Trump confirmed plans for Bitcoin reserve.</p> 
<p>Bitcoin (<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) reached an all-time high of $106,488.25 at 12:40 AM UTC after ascending for 25 minutes straight. This hike follows the former U.S. President Donald Trump’s announcement at the New York Stock Exchange on Dec. 12 to create a U.S. Bitcoin strategic reserve. Trump’s <a href="https://www.cnbc.com/2024/12/12/watch-the-full-video-of-donald-trump-talking-with-jim-cramer-at-nyse.html" target="_blank" rel="nofollow">remarks</a>, intended to ensure the U.S. maintains an advantage over global rivals, have spurred investor excitement and propelled market momentum. Speaking to CNBC, Trump said, “<em>We’re gonna do something great with crypto … we want to be ahead.</em>”&nbsp;</p> 
<p> You might also like: <a rel="" href="https://crypto.news/bitcoin-surpasses-103000-metars-galxe-shiro-neko-rally/"> Bitcoin surpasses $103k as Metars Genesis surges 80%, Galxe rallies 50%, Shiro Neko jumps double digits </a> </p> 
<p>This momentum was evidently reinforced by Republican Senator Cynthia Lummis’ <a rel="" href="https://crypto.news/senator-lummis-u-s-is-going-to-build-a-strategic-btc-reserve/">BITCOIN</a> Act, which aims to have the U.S. purchase 1 million BTC over the next five years to combat the $35 trillion national debt. This narrative is gaining global momentum, as Russia is <a rel="" href="https://crypto.news/russia-officially-recognizes-crypto-as-property-with-new-tax-law/">contemplating</a> a Bitcoin strategic reserve after President Vladimir Putin said BTC cannot be banned.&nbsp;</p> 
<p>In addition to that, Anton Tkachev, a Russian Finance minister, also <a rel="" href="https://crypto.news/russian-state-deputy-urges-to-create-bitcoin-reserve/">suggested</a> establishing a strategic Bitcoin reserve in order to solve the issue of sanctions placed on the country.&nbsp;</p> 
<p>MicroStrategy, a major corporate holder of Bitcoin, bought 21,550 BTC for $2.1 billion, raising its overall holdings to 423,650 BTC. The company has also been <a rel="" href="https://crypto.news/microstrategy-joins-nasdaq-100-index-following-bitcoin/">listed</a> on Nasdaq 100 and will be open to the public from Dec. 23.&nbsp;</p> 
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   <p lang="en" dir="ltr">Michael Saylor calls on the US Government to sell all of its gold and buy <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a>. <a rel="nofollow" href="https://t.co/G25G6uXHOf" target="_blank">pic.twitter.com/G25G6uXHOf</a></p>— Watcher.Guru (@WatcherGuru) <a href="https://twitter.com/WatcherGuru/status/1868327899113340964?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 15, 2024</a>
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<p> You might also like: <a rel="" href="https://crypto.news/why-ethena-price-is-pumping-why-it-could-surge-by-35/"> Bitcoin ETFs hit $50b milestone, MicroStrategy expands holdings, Avalanche raises $250m | Weekly Recap </a> </p> 
<p>FOMO, or fear of missing out, an opportunistic sentiment running among investors, has been at an apex after the U.S. Spot Bitcoin ETFs achieved a total cumulative net inflow of more than <a rel="" href="https://crypto.news/bitcoin-etfs-hit-50b-milestone-microstrategy-expands-holdings-avalanche-raises-250m-weekly-recap/">$50 billion</a> in a year. </p> 
<h2 class="wp-block-heading" id="strong-bitcoin-hashrate-hits-record-highs-strong"><strong>Bitcoin hashrate hits record highs</strong></h2> 
<figure class="wp-block-image size-full">
 <a rel="" href="https://crypto.news/"><img loading="lazy" decoding="async" width="1800" height="1013" src="https://crypto.news/app/uploads/2024/12/glassnode-studio_bitcoin-miners-revenue-breakdown-100k-2.png" alt="A chart titled &quot;Bitcoin: Miners' Revenue Breakdown [$100k]&quot; shows Bitcoin's price (black line) and cumulative miners' revenue over time, broken into total transaction fees (red) and total miner revenue (yellow). The chart spans from January 2018 to mid-2024, with Bitcoin's price fluctuating significantly but trending upwards. Miner revenue and transaction fees steadily increase, reaching approximately $72 billion cumulatively by 2024, alongside Bitcoin’s price growth." class="wp-image-14319651"></a>
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  Bitcoin miners’ cumulative revenue surpasses <strong>$72 billion</strong> as of 2024, driven by rising transaction fees and sustained price growth, highlighting the network’s profitability and growing economic impact. | Source: crypto.news
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<p>On-chain, Bitcoin network hashrate has soared to record levels on the miner side. According to hash rate data from Glassnode, hash rates soared from 128 EH/s to more than 804 EH/s, with 37% of the total computational activity carried out in 2024 alone. Bitcoin’s strong network security and economic incentives have pushed miners to earn $71.49 billion in revenue cumulatively.</p> 
<p> Read more: <a rel="" href="https://crypto.news/fair-value-accounting-bitcoin-fasb-rules-takes-effect/"> FASB’s Fair Value accounting rules for Bitcoin will officially take effect today </a> </p>

Bitcoin hits $106K, an all-time high fueled by Donald Trump’s intention to do “great with crypto”

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