Bitcoin (BTC) has smashed through a new all-time high, surpassing $108,000 per coin on Monday afternoon (Islamabad time). The world’s largest cryptocurrency is now trading at $107,847, according to CoinGecko data, marking an 8% increase over the past 24 hours and an impressive 18% gain over the past week.
The new record price of $108,740 was reached just an hour ago, making this the second time in history that Bitcoin has crossed the $108,000 threshold. The first instance occurred on December 17, following the announcement of a pilot Bitcoin national reserve program in the United States.
Crypto Market Gains Momentum Ahead of Trump’s Inauguration
The broader cryptocurrency market has also seen significant movement ahead of Donald Trump’s inauguration as U.S. President. Ethereum (ETH) is up 4.7% at $3,363, Dogecoin (DOGE) has risen 0.5% to $0.377, and Solana (SOL) is trading at $262.
At the time of writing, Bitcoin boasts a fully diluted market capitalization of $2.14 trillion, with 19.812 million coins currently in circulation.
Market analysts attribute Bitcoin’s recent surge to a sudden wave of investor interest, fueled by speculation that the incoming U.S. administration may push for the establishment of a strategic Bitcoin reserve. Such a move would allow Washington to build its own cryptocurrency stockpile, further legitimizing Bitcoin as a global financial asset.
