Bitcoin sets a new record, analysts predict further growth
16 December 08:45
On December 16, 2024, Bitcoin, the world’s most famous cryptocurrency, exceeded the $106,000 mark for the first time, reaching a high of $106,533, and later traded at $104,462, which is 3.2% higher than the previous figure. It is reported by Komersant ukrainskyi with reference to Reuters.
This growth came after another statement by US President-elect Donald Trump about his intention to create a strategic bitcoin reserve, similar to the US strategic oil reserve, which increased optimism among cryptocurrency supporters.
IG analyst Tony Sycamore said:
“We are in new territory. The next market target will be $110,000. The correction that many expected did not happen because of this news.”
Additionally, the inclusion of MicroStrategy, which is known for its significant investments in bitcoin, in the Nasdaq 100 index has helped to increase investor interest in cryptocurrencies.
Overall, bitcoin grew by 192% over the year, reflecting growing investor confidence in cryptocurrencies amid expectations of a more favorable regulatory environment with the arrival of the Trump administration.
“We’re going to do something big with cryptocurrencies because we don’t want China or other countries to get ahead of us. We want to be the leaders,”
– donald Trump said the day before and answered a clarifying question whether he was going to create a federal cryptocurrency reserve, “Yes, I think so.”
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Governments and cryptocurrencies
As of July, governments of various countries held 2.2% of the total supply of bitcoins, with the United States holding nearly 200,000 bitcoins worth more than $20 billion at current prices.
Other countries, such as China, the United Kingdom, Bhutan, and El Salvador, also have significant bitcoin holdings.
In addition, other states are considering creating their own strategic cryptocurrency reserves.
Bitcoin
Bitcoin is the world’s first and most popular cryptocurrency, which appeared in 2009. It was created by a person or a group of people under the pseudonym Satoshi Nakamoto, who remain anonymous to this day. Bitcoin is based on blockchain technology and has no centralized governing body.
Bitcoin is “mined” using a special mining technology, which is a digital analogy of the extraction of physical minerals. Similarly to physical minerals, the amount of currency is limited – there are only 21 million tokens. So far, 19 million tokens have been mined, which is more than 90% of all “deposits”. That is why mining is becoming increasingly difficult and expensive.
Bitcoin, like anything else in the world, can be exchanged for anything else, including traditional currencies. The value of bitcoin shows the level of trust in it.
Bitcoin is considered a reliable and well-secured currency with a very high level of confidentiality. All information about transactions is open in the Bitcoin system, but information about owners is completely anonymous. That is why bitcoin, like some other cryptocurrencies, is popular among Ukrainian corrupt officials.
