Bitcoin briefly tops $108,000...a new all-time high

Bitcoin (BTC) continues to reach new all-time highs toward $110,000. Bitcoin surged to $108,315 (approximately JPY 16.64 million) in overnight trading in New York on the 17th.
Bitcoin has surged more than 150% this year, according to Bloomberg, and traders are
Bitcoin is also on the brink of further upside after President-elect Donald Trump appointed cryptocurrency advocate Paul Atkins to the Securities and Exchange Commission.
The stock price hit a high of $100,000 less than two weeks after the company announced plans to appoint him as chairman.
Since the end of last week, MSTR has been purchasing Bitcoin since it announced its listing on the Nasdaq 100.
Cryptocurrency markets see big surge following Trump's election victory as industry hopes for a friendlier regulatory environment
With Trump taking office next year, this trend could continue. There is also a possibility that the US could hold Bitcoin as a strategic reserve asset.
James Butterfill, head of research at CoinShares, told Bloomberg, "We expect the U.S. to become Bitcoin-capable in 2025."
The prospect of holding the coin as a strategic reserve asset (Polymarkets sees a 27% chance of this happening), geopolitical instability, and loose monetary policy are driving up the price.
"We believe these factors will remain supportive into 2025," he said. Other macroeconomic factors, such as U.S. interest rate decisions, may also have influenced recent Bitcoin price movements.
Chris Newhouse, research director at Cumberland Labs, said Bitcoin’s price has entered a new phase.
"The stage seems set for a reassessment of the long-term potential of crypto assets that goes well beyond the recent rally," he said. "More systematic regulation is needed."
"It's hard to say how quickly new catalysts such as regulation, a stable framework for compliance and even formal government ownership will be reflected in prices."