Bitcoin Reaches New Record, Surpassing $109,000 Ahead of Trump's Inauguration
Bitcoin reached a new record on Monday, breaking the $109,000 barrier, just hours before Donald Trump's inauguration for a second term. The cryptocurrency climbed to $109,241 around 6:30 GMT, before stabilizing at $107,765 an hour later. This surge occurs in a context of high volatility in the cryptocurrency market.
Over the weekend, Donald Trump launched his own digital currency, dubbed "Trump," with 200 million tokens in circulation. After an initial launch at $7 per token, the currency quickly rose to $75 before dropping back to around $45 on Monday morning. This success has fueled interest in the sector, reinforcing movements on other cryptocurrencies like bitcoin.
The enthusiasm for bitcoin can also be explained by anticipation of deregulation in the sector under the Trump administration. According to Bloomberg, the elected president could issue a decree placing cryptocurrencies at the heart of his political priorities and integrating their actors into his administration. This perspective has contributed to the rise of the first digital currency by market capitalization over the past few months.
