Bitcoin Surges to New All-Time High of $109K Ahead of Trump’s Inauguration

Bitcoin (BTC) briefly surged above $109,000 on Jan. 20, surpassing its previous record of $108,000 set in December 2024. At the time of writing, BTC traded at $108,342, up around 3% in the past 24 hours, according to CoinGecko.

The surge comes just hours before Donald Trump is sworn in as the 47th U.S. president at 4:00 PM UTC. Trump’s presidential win in November 2024 previously triggered a crypto rally, pushing Bitcoin past $100,000 for the first time in early December. Optimism is growing around Trump’s crypto-friendly policies, including a potential U.S. strategic Bitcoin reserve and expected regulatory rollbacks.

Speculation about a Bitcoin reserve has intensified, with odds of its establishment within Trump’s first 100 days reaching a multimonth high of 69% on Polymarket just minutes before Bitcoin’s price spike.

Trump’s involvement in the crypto space deepened with the launch of his Official Trump (TRUMP) memecoin on Jan. 17, which has seen explosive growth and may have multiplied his net worth by up to 5x.

Source: Cointelegraph

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