Bitcoin broke a new all-time high on Tuesday morning New York time, smashing past $108,000 per coin before dropping sharply.

The biggest coin is now trading for $107,020, CoinGecko data shows. Over the past day, it’s only up 0.3%—but over a seven-day period, it’s up nearly 12%. The coin’s new record price is $108,135.

Investors are more interested in Bitcoin than before following President-elect Donald Trump’s shock victory on November 5. The Republican promised during his campaign to help the digital asset industry, even at one point telling people at a conference to “never sell your Bitcoin.”

All eyes are now focused on whether the new administration will launch a strategic Bitcoin reserve. Such a plan would mean the U.S. government would hold a stockpile of the cryptocurrency as it already does with other assets, like gold.

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Author: Mathew Di Salvo