Bitcoin Soars on Trump Reserve Hopes, UK Stocks Dip

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 35 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 67%

Business News

Bitcoin,Trump,Stocks

Bitcoin price surges to new highs fueled by speculation that President-elect Trump will establish a strategic Bitcoin reserve. Meanwhile, UK stock markets experience declines, with the FTSE 100 and FTSE 250 reaching near one-month lows. The pound recovers from recent weakness but remains below six-month highs.

By Sarah Taaffe-Maguire, business and economics reporter Another day, another Bitcoin high. Having passed the $100,000 mark less than two weeks ago, it's now hit $107,000 on hopes president-elect Trump would create a strategic reserve of Bitcoin when he takes office.The US is one of the largest holders of the cryptocurrency having seized more than $18.6bn worth from criminals - sums that Mr Trump may maintain as a strategic reserve, rather than auctioning them.

It hasn't been as good a day for the benchmark UK stock market index - the FTSE 100 or the larger and more UK-focused 250.Both have taken a clear dip today with 0.77% and 0.51% drops respectively, bringing both to a near one-month low. The biggest faller is packaging company Bunzl after it issued a profit warning.The pound rebounded since hitting a three-weekly low on Friday but is still lower than most points in the last six months.Against the euro, however, the pound at €1.2098 is not far off the highest level since Brexit.Another drop in the oil price brings the benchmark price for a barrel of Brent crude to $73.39, around the lowest it's been for the past few months

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 35. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines