Bitcoin Surges to Over $109,241 as Trump Inauguration Nears

Published on January 20, 2025

Bitcoin’s value has skyrocketed to an all-time high of $109,241 on Monday, ahead of Donald Trump’s inauguration as U.S. president.

This surge comes after Trump signalled plans to deregulate the cryptocurrency sector, sparking optimism among investors.

The world’s largest cryptocurrency has experienced a significant increase since Trump’s presidential election win in November, surpassing $100,000 for the first time in early December. Trump’s nomination of cryptocurrency backer Paul Atkins to head the US securities regulator further reinforced this optimism.

Interestingly, Trump launched his cryptocurrency, $TRUMP, over the weekend, which sparked intense buying and sent its market capitalization to several billion dollars.

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When Bitcoin reached the $100,000 milestone, Trump tweeted on his Truth Social platform: “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!”

Despite its growing popularity, Bitcoin has faced criticism for its extreme volatility, association with illicit activities, and significant carbon footprint due to the energy-intensive mining process.

AFP

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