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Bitcoin surges to 106,533 USD as Trump’s reserve proposal boosts market momentum

Trump’s proposal affects Bitcoin’s dominance: President-elect Donald Trump’s strategic reserve proposal aims to establish a U.S. Bitcoin reserve. This is crucial for maintaining crypto dominance against rivals like China, promoting market confidence amidst increasing global competition.

Bitcoin withdrawals indicate market strength: Nearly 27,000 Bitcoins were withdrawn from exchanges, valued at approximately 2.8 billion USD. This reflects a stronger supply-demand dynamic that may lead to upward price pressure, further enhancing Bitcoin’s value in the market.

MAJOR companies adopt Bitcoin as reserve asset: Corporate giants like MicroStrategy and Tesla have integrated Bitcoin as a reserve asset, with MicroStrategy holding 423,650 BTC valued at about 43.6 billion USD. This indicates Bitcoin’s rising role as a safeguard against economic uncertainty.

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