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
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