The price of the cryptocurrency rose by more than 50% after Donald Trump's victory in the November 5 election.
Bitcoin reached a new record high. The world's largest cryptocurrency briefly topped $106,000 in Asian trading on Monday morning, CNN reports.
The price of the cryptocurrency has surged more than 50 percent since Donald Trump's victory in the Nov. 5 election.
Trump's incoming administration is considered much more cryptocurrency-friendly than Joe Biden's.
The US president-elect is considering creating a national stockpile of the digital currency, similar to the country's strategic petroleum reserve.
Earlier this month, Trump appointed Silicon Valley entrepreneur David Sachs as his AI and cryptocurrency czar.
Sachs is a former PayPal executive and close friend of Trump adviser and megadonor Elon Musk.
Trump also said he would nominate pro-cryptocurrency Washington lawyer Paul Atkins as the new head of Wall Street's regulator, the Securities and Exchange Commission (SEC).
Last month, the current head of the SEC, Gary Gensler, announced he would step down on the day of Trump's inauguration, on January 20 next year.
"I thank President Biden for entrusting me with this incredible responsibility. The Securities and Exchange Commission has fulfilled our mission and enforced the law without fear or favor," Gensler wrote on social media X.
Trump earlier revealed plans to fire Gensler on the "first day" of his new administration after the SEC chairman took legal action against cryptocurrency firms, sparking controversy in some quarters. | BGNES
Bitcoin reaches new record of over 106 000 dollars
