bitcoin-four-minute-instant-guide-explainer" target="_blank" rel="noopener nofollow" class="sc-adb616fe-0 bJsyml">Bitcoin broke a new all-time high on Tuesday morning New York time, smashing past $108,000 per coin before dropping sharply.
The biggest coin is now trading for $107,020, CoinGecko data shows. Over the past day, it’s only up 0.3%—but over a seven-day period, it’s up nearly 12%. The coin’s new record price is $108,135.
Investors are more interested in Bitcoin than before following President-elect Donald Trump’s shock victory on November 5. The Republican promised during his campaign to help the digital asset industry, even at one point telling people at a conference to “never sell your Bitcoin.”
All eyes are now focused on whether the new administration will launch a strategic Bitcoin reserve. Such a plan would mean the U.S. government would hold a stockpile of the cryptocurrency as it already does with other assets, like gold.
Bitcoin has pushed to new all-time high marks for three straight days. The leading cryptocurrency first topped the $100,000 milestone mark earlier in December.
Money has flooded back into digital asset investment products—particularly the new Bitcoin exchange-traded funds. On Monday alone, investors threw more than $600 million at the 10 spot U.S. funds, which trade on stock exchanges.
Last week, investors xrp-demand-grows-bitcoin-ethereum-etfs" target="_blank" class="sc-adb616fe-0 bJsyml" rel="nofollow">continued to break records with the amount of money bet on cryptocurrencies via more traditional investment vehicles.
In the world of altcoins, XRP—a coin launched by the co-founders of fintech Ripple Labs—is making big gains.
The asset, the third-biggest cryptocurrency by market cap, surged amid the launch of Ripple’s dollar-pegged RLUSD stablecoin Tuesday, and is now trading for $2.63. Over the last day, XRP has jumped by more than 6%.
Among other high-value coins, stellar" target="_blank" class="sc-adb616fe-0 bJsyml" rel="nofollow">Stellar (XLM) is the next-biggest gainer, having jumped in price by approximately 5% in the past day. The asset—whose native blockchain works to send money across borders, just like XRP—is now priced at nearly $0.44.
Both assets are still trading significantly lower than records they set back in 2018, however. XRP jumped to a seven-year high of $2.82 earlier this month, and rose back above $2.70 earlier Tuesday.
In the fast-moving and risky world of meme coins, Bonk, a solana-a-scalable-decentralized-network-for-dapps" target="_blank" rel="noopener nofollow" class="sc-adb616fe-0 bJsyml">Solana-based token, is by far doing the best among the top 100 overall coins, having jumped 4% in 24 hours. It’s now priced at $0.000036, according to CoinGecko.
And exchange-linked coins—the Bitget Token (BGB) and Crypto.com-backed Cronos (CRO)—are both up approximately 11% over the past day.
Edited by Andrew Hayward
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