President-elect Donald Trump has expressed interest in building up a stockpile of bitcoin. What would that mean for taxpayers?

Bitcoin, riding record highs following Donald Trump's embrace of the digital cryptocurrency, came back down to earth after Federal Reserve Chairman Jerome Powell said the central bank is not looking to hold it.

Bitcoin continued to break records on Monday as the original cryptocurrency surged to a new all-time high of $107,822, fueled by the growing potential for a strategic national Bitcoin reserve. The currency,

President-elect Donald Trump has been promoting the idea of creating a ‘Strategic National Bitcoin Stockpile,’ but the purpose of such an institution remains unclear.

Bitcoin prices have more than doubled this year, fueled by the launch of the first U.S. cryptocurrency exchange-traded funds, plus Donald Trump's election. Asset managers hope to seize on the momentum by putting smaller and riskier tokens into ETFs—but some investors are skeptical.

With pro-crypto Paul Atkins leading the agency after Gensler's upcoming exit, the crypto exchange has dropped its high-profile litigation against the regulator.

The cryptocurrency had only recently hit an all-time high above $108,000 earlier this week, before succumbing to a wave of aggressive selling.

While markets eagerly await Trump's potential move on a national bitcoin reserve, several states are already making moves to start holding the crypto.

From his initial campaign and victory back in 2016, to running for president again after losing the 2020 election, Trump has been a relevant figure in politics for nearly a decade. This is roughly the same time during which Bitcoin emerged as a popular mainstream item, introducing cryptocurrencies in the financial world.

Trump has vowed to levy up to 100% tariffs on all goods from China, a move that could make Bitcoin mining hardware more costly for US firms.

Trump meets Crypto.com CEO Kris Marszalek at Mar-a-Lago to discuss crypto appointments and Bitcoin reserves influencing US policies.

Bitcoin hit a record high above $107,000 Monday after President-elect Donald Trump reiterated plans to create a U.S. bitcoin strategic reserve.