Today, the price of Bitcoin recorded a new all-time high at $106,352 (data from CoinGecko).
Currently the largest in the world kriptovalyuta is hovering around the $105,000 mark, having added 24% over the past 3,5 hours, with a weekly gain of 6,1%.
The new all-time high is significant for Bitcoin, marking its evolution into an established asset class, says BTC Markets crypto analyst Rachel Lucas.
ATH reflects Bitcoin's transition from a retail asset to an asset supported by institutional demand, ETF and corporate treasuries, which strengthens its legitimacy.
Several factors are believed to have contributed to Bitcoin's surge above $106,000, including US President-elect Donald Trump's recent announcement of a Bitcoin strategic reserve and his desire to do "something great" with the cryptocurrency.
Improving sentiment in the crypto market promoted by MicroStrategy , which has already formed a reserve of bitcoins worth more than $44 billion and will enter the Nasdaq 100 on December 23rd.
In addition, the mining giant bitcoins Riot Platforms announced last Friday that he had purchased 5117 bitcoins at an average price of $99,669 per Bitcoin .
Investors now look ahead to the Federal Reserve's final meeting of the year on Wednesday. CME Group's FedWatch tool currently gives a 97,1% chance of a 25 basis point rate cut.
