Bitcoin has surged to a new record high, extending a rally that has seen the cryptocurrency’s price rise by more than 50% since Donald Trump’s victory in the 5 November election.
The world’s largest cryptocurrency briefly passed $106,000 (£83,890), before falling back to around $104,500 in Asia trade on Monday.
The incoming Trump administration is seen as being far more friendly towards cryptocurrencies than the Biden White House.
On Thursday, the US president-elect reiterated that he is considering creating a national stockpile of the digital currency, similar to the country’s strategic oil reserve.
“The Bitcoin rally since the election has been parabolic and the FOMO – or fear of missing out – rally is gathering momentum,” Peter McGuire from trading platform XM.com told the BBC.
