Bitcoin has risen to a fresh record high, extending a rally fueled by President-elect Donald Trump's embrace of digital assets and his plan to make the U.S. the dominant force in the sector, Bloomberg reports .

The largest token surged more than 3% in Asia on Monday to hit an all-time high of $106,460, surpassing its previous peak on Dec. 5.

Trump is aiming to create a favorable regulatory environment for digital assets, reversing the harsh measures put in place by the outgoing Biden administration. The Republican has also backed the idea of ​​a strategic national reserve of bitcoin, although many doubt the feasibility of the proposal.

“A lot of people are pinning their hopes on a much more favorable administration,” Aya Kantorovich, co-founder of institutional cryptocurrency platform August, said on Bloomberg Television.

This optimism is reflected in demand for exchange-traded funds that invest in digital assets, she said.

Nasdaq Global Indexes said Friday that bitcoin accumulator MicroStrategy Inc. will join the Nasdaq 100 Index . The software maker’s transformation into a major bet on bitcoin has caught the attention of Wall Street, where the company is raising capital to put billions of dollars into the digital asset.

"Now that MicroStrategy is listed on Nasdaq, index funds can buy its shares, which will help the company raise more capital to buy more bitcoin," said Sean McNulty, director of trading at Arbelos Markets.

Smaller tokens such as the second-largest coin ETH and meme-fan favorite Dogecoin also rose.

Bitcoin ended its seventh of the last eight weeks higher on Sunday, putting it on its longest bull run since 2021.