Bitcoin Surge: New Hopes Through Trump Plans

The cryptocurrency Bitcoin continues its rapid rise and has reached a new record value of over $106,000. The reason for the surge is speculation that Donald Trump, the designated US President, might establish a national fund for Bitcoin. In his recent statements, Trump hinted that he is considering creating a "strategic reserve" of Bitcoin – similar to the existing strategic oil reserve of the United States. These statements fuel expectations that his future administration could actively support the cryptocurrency industry. On Monday, the Bitcoin price climbed to an impressive $106,533, representing an increase of over 190 percent this year. Trump emphasized in an interview with CNBC: "We will do something great with crypto because we don't want China or other countries that are already doing this to overtake us." Despite a crackdown on cryptocurrencies by US authorities in recent years, the US government is already the largest holder of Bitcoin, mainly acquired through seizures. Other significant state actors include China, the United Kingdom, Bhutan, and El Salvador. Cryptocurrencies are held worldwide as a strategic asset, with governments owning 2.2 percent of total Bitcoin reserves as of July. Companies like Tesla's Elon Musk also hold substantial stocks. Russian President Vladimir Putin expressed that Bitcoin could become a safe haven for countries fearing sanctions. Bitcoin, which is not controlled by central banks, is often compared to gold, as Federal Reserve Chairman Jerome Powell also notes. Additionally, other cryptocurrencies, such as Ethereum, rose following Trump's comments. Analysts, including Tony Sycamore from IG, are optimistic. Sycamore told Reuters: "We are now in uncharted territory. The market is targeting the $110,000 mark." The inclusion of MicroStrategy, a Bitcoin treasury company, in the Nasdaq 100 Index further fuels positive sentiment. This could lead to increased investments by other funds.