Bitcoin Surges as US Plans Strategic Reserve; Coinbase and Bitfarm Stocks Rise

Dec 16, 2024

Bitcoin prices soared to over $106,000, reaching a record high. This surge was fueled by comments from the US President-elect, who hinted at plans to establish a US Bitcoin Strategic Reserve, similar to the Strategic Petroleum Reserve.

In response to this news, Coinbase's stock rose nearly 4%, Bitfarm saw a 2.8% increase, and Riot Platforms gained 1.7%. Additionally, the iShares Bitcoin Trust climbed by 3.2%.

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