ToplineBitcoin led a broader cryptocurrency market rally Friday, boosted by encouraging economic data and reports about what President-elect Donald Trump may do to bolster the digital asset when he takes office next week.

As the federal government prepares to consider a Strategic Bitcoin Reserve, states are weighing adopting reserves of their own

The cryptocurrency industry has pushed President-elect Donald J. Trump to establish one, creating real political momentum behind the plan.

Bitcoin re-entered the $105,000 territory and briefly touched $106,000 on Saturday as the cryptocurrency market regained momentum ahead of Donald Trump’s

There are already media reports that other nations, including Japan, Russia and China, are accumulating bitcoin ahead of a possible SBR announcement by the US. And Trump has even indicated that he might repeal a controversial crypto accounting rule that would allow banks to hold more bitcoin.

The fall comes after the cryptocurrency experienced a meteoric rise, fueled in part by the reelection of Donald Trump.

Bitcoin ( BTC 4.81%) has led the way, rising 5.6% in the past 24 hours as of 12:30 p.m. ET and nearly crossing $105,000 per token. Ethereum ( ETH 3.33%) is up a more modest 2.6% in that time, and Dogecoin ( DOGE 8.00%) is up 7.3%.

Massachusetts Senator Peter Durant wants the state to establish a strategic Bitcoin reserve amid global clamor for the coin.

Switzerland has proposed to adopt Bitcoin reserve, expanding the SNB's portfolio, which currently includes the dollar, euro, and gold.

Bitcoin ( BTC 1.04%) had a phenomenal year in 2024. The cryptocurrency returned 119%, easily outperforming the 23% gain in the S&P 500 (SNPINDEX: ^GSPC), which itself is commonly seen as a barometer for the overall U.S. stock market. In fact, only five stocks in the S&P 500 created more wealth than Bitcoin last year.

Brian Armstrong, CEO of Coinbase, has publicly endorsed a proposal for global leaders to establish Bitcoin strategic reserves.