Bitcoin reached a historic milestone on Monday afternoon (Islamabad time), smashing past $108,000 per coin for the second time in its history. The cryptocurrency’s price climbed to a record $108,740, according to CoinGecko data.
Market Performance
- Current Price: Bitcoin is now trading at $107,847, marking an 8% increase in a single day.
- Weekly Growth: Over the past seven days, Bitcoin has surged nearly 18%.
- Market Capitalization: Bitcoin’s fully diluted market cap stands at $2.14 trillion, with 19.812 million coins in circulation.
Key Drivers Behind the Surge
Bitcoin first breached the $108,000 level on December 17 following the announcement of a pilot Bitcoin national reserve in the United States. Investors have shown renewed interest in Bitcoin ahead of Donald Trump’s inauguration, fueling speculation that the new administration may advocate for a strategic Bitcoin reserve to build a national crypto stockpile.
READ MORE: National Assembly to Discuss Tax Laws (Amendment) Bill, 2024
Other Cryptocurrencies See Gains
- Ethereum (ETH): Up 4.7%, trading at $3,363.
- Dogecoin (DOGE): Up 0.5%, trading at $0.377.
- Solana (SOL): Trading at $262.
Market analysts believe the growing interest in Bitcoin and other cryptocurrencies reflects increasing confidence in their role as strategic financial assets in a changing global economy.
