Crypto Market in Profit, Bitcoin Price Reaches Close to USD 1 Lakh, XRP Gains Almost 10 Percent

Bitcoin’s price was trading at more than $ 99,220 to over 2.32 percent on the Binance after writing this report. Recently, Bitcoin made a high of more than $ 1,08,800. Funding has also increased in bitcoin spot ETF. The price of the second largest cryptocurrency Ether was by more than 3.80 percent to more than $ 3,320. Apart from this, the XRP rose over nine percent to about $ 3.09. Other fast -fasting cryptocurrency included Solana, Polygon, Cronos and BNB.

Donald Trump will take charge as the US President next week. Trump had indicated to create a reserve of bitcoin. However, the Federal Reserve says that it does not intend to join the upcoming government’s plan to make a large stock of bitcoin. Russia’s companies are using this most popular cryptocurrency in business from abroad. Russia had allowed the use of cryptocurrency to change the law by changing the laws of Western countries. Ukraine has started efforts to stop Russia’s move. Recently, Russian President Vladimir Putin said that the US government is reducing its role by using US dollar for political purposes. Because of this, many countries have to move to other assets.

Institutional investors are also increasing interest in this segment. Enterprise software -making Microstrategy made a large number of bitcoin purchases in the eighth consecutive week in late December. It is the highest holding company of bitcoin. Micostratezi has about 4,46,000 bitcoins. This company had said that it could buy more shares and buy bitcoins this year.