• Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact
Saturday, June 7, 2025
FinCurrency
No Result
View All Result
  • Home
  • News
  • Finance
  • Economy
  • Crypto
  • Home
  • News
  • Finance
  • Economy
  • Crypto
No Result
View All Result
FinCurrency
No Result
View All Result

Bitcoin Breaks $107,000 Amid Fed Rate Cut Expectations and Trump’s Crypto Reserve Plans

Andras Crow-Hreidar by Andras Crow-Hreidar
December 16, 2024
in Crypto, News
Reading Time: 2 mins read
A A
0
Bitcoin Breaks $107,000 Amid Fed Rate Cut Expectations and Trump’s Crypto Reserve Plans
0
SHARES
0
VIEWS
FacebookTweetPinShareShare

Bitcoin has reached a remarkable new milestone, soaring to an all-time high of over $107,000. This surge comes as investors keenly anticipate a potential interest rate cut from the Federal Reserve later this week. In a bold move, President-elect Donald Trump has proposed creating a U.S. Bitcoin strategic reserve akin to the country’s strategic oil reserve, stirring excitement within the cryptocurrency community.

The Strategic Reserve Plans

This year, Bitcoin has experienced an incredible 151% growth. In a recent interview with CNBC, Trump expressed his vision of ‘doing something great with crypto,’ emphasizing the importance of leading the sector and surpassing nations like China. When questioned about establishing a crypto reserve similar to the oil reserves, Trump confirmed, “Yeah, I think so.” Several countries, including China, the UK, Bhutan, and El Salvador, have already accumulated significant Bitcoin reserves, while others are contemplating similar strategies.

blockdag 70m

Countries Exploring Alternatives

Earlier this month, Russian President Vladimir Putin criticized the U.S. for undermining the dollar’s role as a global reserve currency by leveraging it for political motives. This has prompted numerous countries to consider alternatives such as cryptocurrencies. However, not everyone is convinced. Chris Weston, head of research at Pepperstone, cautioned, “I think we still need to be cautious on a BTC strategic reserve and at least consider that this is not likely to happen anytime soon.” Since the pro-crypto victory in the November 5 election, Bitcoin has surged more than 50%, contributing to the cryptocurrency market’s overall value reaching a record $3.8 trillion. Trump has also nominated the pro-crypto Paul Atkins to lead the SEC, further bolstering investor confidence.

Bitcoin Hits Another Milestone!

Entering the final quarter of 2024, Bitcoin has achieved another significant milestone as its Energy Value metric has reached $100,000. The Bitcoin Energy Value SMA has surged to nearly $100,500, with the raw metric approaching $105,000, according to Charles Edwards of Capriole Investments. Edwards had previously predicted in March 2020 that Bitcoin’s Energy Value would hit $100,000 by 2025.

Investors are eagerly watching the Federal Reserve’s upcoming two-day policy meeting, concluding on Wednesday, as they anticipate an interest rate reduction. The CME FedWatch Tool predicts a 96% likelihood of a 25-basis-point cut, which could have a bullish impact on Bitcoin’s price. Currently trading at $107,095, Bitcoin has seen a 3% increase over the past 24 hours.

Tags: Bitcoin
Previous Post

Time To Sell XRP? Price Completes Head And Shoulder Pattern, Suggesting Crash To $2.2 Is Imminent

Next Post

FTX Chapter 11 Plan To Take Effect in January 2025, Kraken and BitGo To Assist With Recoveries

Andras Crow-Hreidar

Andras Crow-Hreidar

Hi there, my name is András and I'm a business and finance journalist living in Norway. My passion lies in uncovering the latest stories in the world of finance and delivering them to my readers in a way that's clear and engaging. I cover a wide range of topics in the finance world, including cryptocurrencies, which I believe have the potential to transform the way we interact with money and financial systems.As a journalist, I'm committed to providing my readers with accurate and reliable reporting. I believe that access to high-quality information is essential for making informed decisions, whether it's about personal finances or investments. When I'm not writing about finance, I enjoy a variety of hobbies and interests.

Next Post
FTX Chapter 11 Plan To Take Effect in January 2025, Kraken and BitGo To Assist With Recoveries

FTX Chapter 11 Plan To Take Effect in January 2025, Kraken and BitGo To Assist With Recoveries

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Popular News

  • How BlockDAG’s Community-First Strategy Raised $68.3M in Presale; Cardano To Roll out New Update & Solana Price Prediction Bullish

    How BlockDAG’s Community-First Strategy Raised $68.3M in Presale; Cardano To Roll out New Update & Solana Price Prediction Bullish

    0 shares
    Share 0 Tweet 0
  • Top 10 Altcoins Under $1 to Invest in 2025

    0 shares
    Share 0 Tweet 0
  • Vanguard Routing Number: How to Find and Use It

    0 shares
    Share 0 Tweet 0
  • Alex Mashinsky Net Worth: From Tech Pioneer to Legal Battle

    0 shares
    Share 0 Tweet 0
  • How to Earn Passive Income? Embrace the Future of Passive Income and Earn 20% Instant USDT with Caged Beasts Coin

    0 shares
    Share 0 Tweet 0

Recent News

$12k Void Opens Up Possibility Of Crash Toward $75,000

$12k Void Opens Up Possibility Of Crash Toward $75,000

January 11, 2025
Phishing, Fake Mining Scams, and $474K Loss in One Week

Phishing, Fake Mining Scams, and $474K Loss in One Week

January 11, 2025
3 kleine crypto’s met potentie

3 kleine crypto’s met potentie

January 11, 2025
Unbelievable 1000x Return in Just 12 Hours!

Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin

January 11, 2025
FinCurrency Logo White Mode Retina Mobile

FinCurrency is a user-friendly platform that stands out as a unique source where our strong team of experienced and academically qualified writers, who are experts in their fields, analyze current issues and global affairs related to the finance and crypto world in an enjoyable and non-technical approach.

$12k Void Opens Up Possibility Of Crash Toward $75,000

$12k Void Opens Up Possibility Of Crash Toward $75,000

January 11, 2025
Phishing, Fake Mining Scams, and $474K Loss in One Week

Phishing, Fake Mining Scams, and $474K Loss in One Week

January 11, 2025
3 kleine crypto’s met potentie

3 kleine crypto’s met potentie

January 11, 2025
Unbelievable 1000x Return in Just 12 Hours!

Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin

January 11, 2025

WARNING:

The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.
Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

  • Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact

© 2024 FinCurrency - Global News

No Result
View All Result
  • Home
  • News
  • Economy
  • Finance
  • Crypto
  • Technology
  • Terms and Conditions
  • Contact

© 2024 FinCurrency - Global News

Banner 1
Banner 2
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Terms and Conditions.