Bitcoin’s price surged to almost $109,000 early Monday morning as the market anticipates pro-cryptocurrency policies from President-elect Donald Trump’s incoming administration.
The inauguration of Donald Trump as the 47th President of the United States is scheduled for today, January 20, 2025, at 12 p.m. EST. Due to expected cold temperatures, the ceremony will be held indoors in the Capitol Rotunda. The event will feature musical performances by artists such as Carrie Underwood, Christopher Macchio, and Lee Greenwood.
Market analysts suggest that the sudden surge in Bitcoin’s price today is due to expectations of favorable cryptocurrency policies under the new administration. The key hope of course, is that Trump will announce a Strategic Bitcoin Reserve. There’s also good news for XRP holders, it’s likely that there will be a Crypto Reserve of American crypto coins such as Ripple’s XRP, and Solana.
Bitcoin hit a new all-time high of $108,893 early Monday morning, Source Brave New Coin BLX
Earlier reports indicate that President-elect Trump may issue executive orders aimed at reducing regulatory barriers and promoting digital assets. Additionally, the potential nomination of pro-crypto former SEC Commissioner Paul Atkins as chair of the Securities and Exchange Commission has bolstered market confidence.
Cryptocurrency investors are particularly attentive to potential policy shifts. The anticipation of executive orders promoting digital assets has contributed to the massive bullish sentiment in the crypto market. Analysts predict that Bitcoin’s price could reach up to $400,000 in 2025, driven by favorable cryptocurrency policies anticipated from the incoming administration, including the establishment of a strategic Bitcoin reserve, and The Trump Pump.
As the inauguration unfolds, market participants will closely monitor the administration’s policy directives, especially those related to the cryptocurrency sector, to assess their potential impact on financial markets.
For now, enjoy the new Bitcoin all time high. The bull run is just getting started.
