Altcoins operate with drops of up to 17%, led by Dogecoin, while Bitcoin falls another 6.3% and operates close to $98,000.
After reaching a new historical record in the US$108,000, Bitcoin almost goes back 7% and pierce the US$100,000 this Thursday., while Ethereum sinks 11.2% to less than US$3,500.
Altcoins operate with declines of up to 18%, led by dogecoin, Cardano (-14.6%), Ripple (-10.6%) and Solarium (-10.7%).
The latest increases occurred after donald trump reiterate his intention to create a strategic reserve of bitcoins in the United States to protect the economy from inflation and the devaluation of the dollar. The president-elect’s plan has been well received by numerous experts and investors, although his critics also number in the thousands.
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Trump’s recent statements gave new impetus to digital assets, while the inclusion of MicroStrategy on the Nasdaq 100 index has been another key factor for the price rise. The company, led by Michael Saylor, is the largest institutional holder of bitcoin worldwide since it adopted its investment strategy in this cryptocurrency in 2020.
“The recent incorporation of MicroStrategy to Nasdaq 100 highlights the growing relevance of bitcoin in the technology sector. This reinforces its legitimacy as a solid investment option and demonstrates its ability to compete with traditional assets in terms of value and relevance,” says Antonio Di Giacomo, markets analyst at XS.com.
Javier Molina, senior analyst at eToro, emphasizes that this inclusion “allows pension funds, mutual funds and portfolios of insurance companies that use this index to indirectly invest in bitcoin through MicroStrategy, without needing to be directly exposed to the digital asset. This further strengthens the institutional adoption of bitcoin.” Furthermore, it highlights that BlackRock is promoting a 2% allocation in bitcoin within diversified portfolios, which amplifies the impact of this movement.
Source: Ambito
