BTC Hits $106K: Trump Eyes Bitcoin Reserve, Saylor Backs MARA for Nasdaq 100 and More: Dec 16

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Bitcoin hit an all-time high of $106,500 on December 15, 2024, driven by speculation that the Trump administration may designate it as a US reserve asset. Currently priced at $104,469, Bitcoin is up 3.10% in the past 24 hours, while Ethereum trades at $3,958, up 2.29%. The Fear and Greed Index rose to 83 (Extreme Greed) today, reflecting bullish market sentiment. With a $2 trillion market cap, Bitcoin is projected to reach as high as $800,000 by 2025, potentially growing to a $15 trillion valuation. MicroStrategy, holding 158,245 BTC, will join the Nasdaq 100 by December 23, while MARA Holdings seeks inclusion after recent major Bitcoin purchases. XRP, supported by the RLUSD stablecoin, is also gaining traction, with its $138 billion market cap expected to grow alongside increased adoption.

 

What’s Trending in the Crypto Community? 

  • MicroStrategy (MSTR) has been included in the Nasdaq 100 index and will join on December 23, 2024.

  • Bitcoin has broken through $106,500, setting a new all-time high on Monday, December 16, 2024. .

  • Bitwise CEO: AI agents need crypto systems and use stablecoins and Bitcoin for transactions.

  • Lending Protocol Aave: Net inflow surged to $500 million in the past week.

  • NFT Trading Volume: Reached $224.41 million this week, a 16.27% increase from the previous week.

  • OpenSea: Registration of a foundation has sparked airdrop speculation, with a new version possibly launching this month.

Read more: What Are AI Agents in Crypto, and the Top AI Agent Projects to Know?

 

 Crypto Fear & Greed Index | Source: Alternative.me 

 

Trending Tokens of the Day 

Top 24-Hour Performers 

Trading Pair 

24H Change

BTC/USDT

+2.83%

FTM/USDT

+16.08%

AAVE/USDT

- 2.71%

 

Trade now on KuCoin

 

BTC Hit an All-Time-High above $106K Today

Source: KuCoin

 

Bitcoin hit 106,500 today, reaching an all-time high on December 15, 2024. Perianne Boring, founder of The Digital Chamber, predicts Bitcoin’s fixed supply may drive its price to 800,000 by the end of 2025. She ties this potential surge to Donald Trump implementing his proposed crypto policies.

 

Boring stated “If Donald Trump is successful in putting forth a lot of the proposals that he's proposed to the [crypto] community the sky's the limit because Bitcoin has a fixed supply.”

 

The stock-to-flow model forecasts Bitcoin’s price to exceed 800,000 by 2025. At that price Bitcoin’s market cap would hit 15 trillion up from its current 2 trillion. This model estimates Bitcoin scarcity and demand trends.

 

PlanB the stock-to-flow model creator predicts Bitcoin will average 500,000 across 2025. He also believes Bitcoin’s price could peak at 1 million during this period.

 

Source: PlanB

 

Trump and Bitcoin: A New Reserve Asset?

Donald Trump might declare Bitcoin as a United States reserve asset through an executive order on day one in office. Jack Mallers, CEO of Strike, revealed this plan during a podcast interview with Tim Pool. Trump could use the "Dollar Stabilization Act" to authorize this move. The proposal suggests the U.S. Treasury and Federal Reserve purchase 200,000 Bitcoin annually over five years. Senator Cynthia Lummis introduced this strategy as part of the Bitcoin Act of 2024. The goal is to accumulate 1 million Bitcoin and hold the reserve for 20 years. This would remove 5 % of Bitcoin’s 21 million fixed supply from circulation.

 

Mallers stated, "There’s potential to use a day-one executive order to purchase Bitcoin. It wouldn't be the size and scale of 1 million coins but it would be a significant position."

 

Analysts predict this could cause Bitcoin's price to skyrocket. Perianne Boring, founder of The Digital Chamber, forecasts Bitcoin could hit $800,000 by the end of 2025. This would raise Bitcoin’s market cap to $15 trillion from its current $2 trillion. PlanB, creator of the stock-to-flow model, expects Bitcoin to average $500,000 in 2025 and potentially peak at $1 million. BlackRock, managing $10 trillion in assets, advises a 1 to 2% portfolio allocation to Bitcoin. A 2 % allocation of global reserves, currently valued at $900 trillion, could push Bitcoin to $900,000.

 

Read More: Donald Trump Backed WLFI Acquires $12 Million in Ethereum, Chainlink, and Aave

 

Michael Saylor and MARA’s Drive to the Nasdaq 100

Source: Google

 

MicroStrategy will join the Nasdaq 100 on December 23. The company holds over 158,245 Bitcoin worth $16.7 billion at current prices. MARA Holdings aims to follow this path. MARA invested over $600 million in Bitcoin in the last two months, increasing its market cap to $7.32 billion. MicroStrategy's market cap now stands at $94.77 billion.

 

Michael Saylor, MicroStrategy founder, said, "I expect $MARA will be the next." MARA’s chairman Fred Thiel added, "We are working hard to get there."

 

Joining the Nasdaq 100 solidifies a company’s position as one of the 100 largest on the exchange. This inclusion reflects the growing prominence of Bitcoin-centric firms in traditional finance.

 

RLUSD Stablecoin: Driving XRP Demand into 2025

Source: KuCoin

 

The RLUSD stablecoin will likely drive demand for XRP heading into 2025. The New York Department of Financial Services approved RLUSD, which will be backed by fiat reserves and short-term Treasury bills. Most RLUSD transactions will occur on the XRP Ledger (XRPL) and the XRP-EVM sidechain. These systems require XRP for gas fees, ensuring consistent demand.

 

Georgios Vlachos, co-founder of Axelar, explained, "When you do those transfers, you pay for gas in XRP. XRP holders benefit because you burn some XRP every time you do a transaction."

 

XRP currently has a maximum supply of 100 billion tokens with 57 billion circulating. In November 2024, XRP reached a seven-year high of $2.90, driven by political developments and new ecosystem upgrades. The price later pulled back to $2.45 as the Relative Strength Index hit 95, signaling overbought conditions.

 

Ripple's RLUSD stablecoin will increase activity on the XRP Ledger. Emerging economies also use stablecoins like RLUSD for transactions and as a hedge against inflation. In December 2024, XRP ranked as the fourth-largest cryptocurrency by market cap at $138 billion, just $2 billion shy of Tether’s $140 billion.

 

Read More: Ripple’s RLUSD Secures Approval from The New York State Department of Financial Services, Dec 11

 

Conclusion: Bold Moves Reshaping Crypto

Bitcoin and XRP are entering a transformative period fueled by policy changes and technological advancements. Trump’s potential Bitcoin purchase could make it a national reserve asset, potentially driving prices to $800,000 or beyond. XRP's demand will likely grow with the adoption of RLUSD and increased activity in its ecosystem. Institutions like MicroStrategy and MARA are setting new benchmarks for crypto integration into traditional markets. With $900 trillion in global reserves and growing institutional interest, Bitcoin and XRP are positioned for unprecedented growth in 2025.

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