[NEWS] Bitcoin surpasses 15 million yen, approaching the 100,000 dollar mark

On the 21st, Bitcoin (BTC) surpassed 15 million yen in Japanese yen, setting a new record high. In dollar terms, it rose to $98,500 at one point (approximately 15.2 million yen), and is within reach of the milestone of $100,000 (approximately 15.44 million yen).

The background to the significant rise in Bitcoin prices is the launch of spot ETF option trading in the United States. IBIT (iShares Bitcoin Trust), a Bitcoin spot ETF offered by BlackRock, which began trading on the 19th, traded the equivalent of approximately $1.9 billion (approximately 296 billion yen) on the first day.

In addition, of the 354,000 contracts, 289,000 were call options and 65,000 were put options, clearly showing investors' bullish stance. The launch of option trading has made Bitcoin spot ETF trading more flexible, especially for institutional investors.

One factor that may have influenced the price of Bitcoin is the actions of the incoming Trump administration.

Bloomberg reported on the 20th that Trump's transition team is considering establishing a post in the White House specializing in cryptocurrency (virtual currency) policy. According to the report, the transition team is actively working to establish this post and is currently selecting a candidate. The establishment of a new post specializing in cryptocurrency policy in the US administration could have a major impact on the cryptocurrency industry.

Trump has so far shown a positive attitude toward cryptocurrency and has included various policies. In particular, he has shown a desire to significantly change the current regulatory environment, such as by dismissing SEC (Securities and Exchange Commission) Chairman Gary Gensler.

The industry is favorably disposed toward Trump's attitude, which is also having an impact on the cryptocurrency market.

Reference: Bloomberg
Image: Shutterstock

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