Bitcoin surges to record high above $106,000 on strategic reserve hopes

Bitcoin surged to a record high above $106,000 in early Asian trade on Monday, boosted by comments from President-elect Donald Trump that suggested he plans to create a US bitcoin strategic reserve similar to its strategic oil reserve.

Bitcoin, the world’s biggest and best known cryptocurrency, hit a high of $106,533 and last traded at $105,688. Smaller crypto ether rose nearly 3 per cent to 4,014.