Bitcoin hits record high amid Trump’s pro-crypto stance

Bitcoin hit a record high above $106,000 on Monday after President-elect Donald Trump suggested he plans to create a US bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls.

Bitcoin, the world’s biggest and best known cryptocurrency, hit a high of $106,533 and last traded up 2.6% at $103,917 at 1215 GMT. Smaller crypto ether was up 0.4% at $3,918.