On December 17, Financial Associated Press reported (Editor: Niu Zhanlin) that during Monday's U.S. trading session, Bitcoin reached $107,000 per coin, setting a new record high, with an intraday gain of over 3%. Earlier, President-elect Trump reiterated that he plans to establish a Bitcoin strategic reserve similar to the U.S. Strategic Petroleum Reserve, igniting the enthusiasm of cryptocurrency bulls.
In addition, MicroStrategy's inclusion in the Nasdaq 100 index has also boosted investor sentiment, meaning that more funds will passively flow into the cryptocurrency market, thereby indirectly holding Bitcoin. The company announced on Monday that it had purchased an additional $1.5 billion worth of Bitcoin in the past week.
Bitcoin and cryptocurrencies have become the focus of attention as investors bet that the incoming Trump administration will create a more favorable regulatory environment, boosting sentiment around this cryptocurrency, with Bitcoin rising about 150% in 2024.
Trump stated late last week: "We are going to do some great things in the cryptocurrency space," noting that more and more countries are embracing cryptocurrency, but "we want to be the leaders."
When asked if he plans to establish a cryptocurrency reserve similar to the Strategic Petroleum Reserve, Trump replied, "Yes, I think so." He made the same claim earlier this year.
Data provider CoinGecko indicates that as of July, Bitcoin held by governments around the world accounted for 2.2% of the total supply. At current levels, the U.S. holds nearly 200,000 Bitcoins, worth over $20 billion.
Aya Kantorovich, co-founder of institutional crypto platform August, stated that many people "are basing their expectations on a more favorable government." She added that this optimism is reflected in the demand for Bitcoin ETFs.
Since Trump won the presidential election on November 5, U.S. ETFs directly investing in Bitcoin have attracted $12.2 billion in funds.
Meanwhile, other countries are also considering strategic reserves of cryptocurrency. Russian President Putin stated earlier this month that the current U.S. government is using the dollar for political purposes, undermining the dollar's role as the global economic reserve currency and forcing many countries to turn to alternative assets, including cryptocurrencies.
However, some remain skeptical. Earlier this month, Federal Reserve Chairman Powell stated that Bitcoin is just like gold, only virtual. People do not see Bitcoin as a tool for payment or value storage; its volatility is too high. Therefore, Bitcoin is not a competitor to the dollar, but is competing with gold.
Chris Weston, research director at Pepperstone, stated: "I think we still need to be cautious about a Bitcoin strategic reserve, at least considering that this situation is unlikely to happen soon."
"Of course, any comments from Trump that give people hope for the development of the strategic reserve plan are a clear positive, but this will have consequences that need to be carefully considered and communicated well to market participants."
It is reported that MicroStrategy is a radical investor in global crypto assets, with its stock price skyrocketing more than six times this year, approaching a market cap of $90 billion, making it the largest corporate holder of cryptocurrency.
Matthew Dibb, Chief Investment Officer of Astronaut Capital, stated that as part of the Nasdaq 100 index, ETFs like QQQ will purchase MicroStrategy's stock, and the rise in stock prices will enable listed companies to buy more Bitcoin through debt, bonds, and the issuance of new shares.
He added: "This seems a bit unexpected, but it hasn't dampened people's enthusiasm; many believe this is the beginning of a capital cycle, which could further drive up Bitcoin's price."
