On the 16th (local time), Bitcoin continued its upward trend, setting a new all-time high within a day.
According to the U.S. cryptocurrency exchange Coinbase, at 11:31 a.m. Eastern Time on that day, the price of one Bitcoin was trading at $106,694 (15,353,000 won), up 3.66% from 24 hours prior.
The price of Bitcoin rose to the $106,800 range that day, surpassing the previous all-time high of $106,500 recorded a day earlier.
This upward trend is attributed to the remarks made by President-elect Donald Trump regarding "strategic reserves of Bitcoin." In an interview with CNBC on the 12th, Trump responded to the question, "Do you have plans to build cryptocurrency reserves similar to oil reserves?" by saying, "It seems so." He also stated, "Given that countries like China are embracing cryptocurrency, we will accomplish great things through cryptocurrency."
At the same time, Ethereum, the second largest by market capitalization, recorded a 1.91% increase to $3,962, while Ripple was traded at $2.50, up 2.95%. Solana and Dogecoin showed decreases of 1.78% and 0.27%, trading at $217 and $0.40, respectively.
The expectation of an interest rate cut ahead of the Federal Reserve's (Fed) last Federal Open Market Committee (FOMC) meeting this year is also stimulating Bitcoin purchases.