Source: Zhitong Finance

Bitcoin hit $0.096 million for the first time, and the digital asset industry is trying to consolidate its influence on Trump and push the White House to establish a new position dedicated to cryptocurrency policy.

Trump's team is discussing whether to create such a position, and the industry is fighting for this position to have direct access to the president-elect, who is now one of the biggest supporters of cryptocurrencies.

These negotiations are the latest boost in US sentiment on the digital asset market after Bitcoin's “big players” $MicroStrategy (MSTR.US)$ The plan is to accelerate the purchase of Bitcoin and launch US Bitcoin ETF options.

The largest digital asset rose more than 2% on Wednesday and extended its gains in early Asian trading on Thursday to a record $96060.69. The overall cryptocurrency market has risen by more than $800 billion since Trump won the election on November 5, according to CoinGecko data.

At the same time, speculators are also increasingly concerned about whether Bitcoin will jump further to 0.1 million dollars. Proponents of multiple cryptocurrencies have been expecting Bitcoin to reach a six-figure level. As a rebuttal to skeptics, skeptics see cryptocurrency as useless and denounce its links to money laundering and criminal activity.

“Buyers are killing sellers,” said Tony Sycamore, market analyst at IG Australia Pty. Although I'm not sure if everything will be smooth sailing as it approaches the $0.1 million mark, the demand seems endless.”

MicroStrategy announced on Wednesday that it plans to increase sales of convertible senior notes by nearly 50% to $2.6 billion to fund the purchase of Bitcoin.

The once obscure software maker now claims to be a Bitcoin finance company with around $31 billion in digital asset reserves.

Trump previously vowed to establish a supportive US regulatory framework for digital assets and establish a strategic Bitcoin reserve. The timeline for implementing his promises and the viability of Bitcoin reserves remain uncertain. The president-elect used to be skeptical about cryptocurrencies, but he changed his strategy after digital asset companies invested heavily to advance their interests during the election campaign.

Editor/jayden