Bitcoin Skyrockets Past $100,000 as Trump Signals Support for Cryptocurrency

Bitcoin surged to a record high of $109,000 on Monday morning, just hours before President-elect Donald Trump’s inauguration, driven by market optimism that the new administration will usher in crypto-friendly policies. The landmark price milestone highlights the growing acceptance of digital currencies, with Trump emerging as an unlikely champion of the sector.

Trump’s Crypto U-Turn

Once a vocal critic of bitcoin, Trump has undergone a dramatic shift in his stance. During his 2024 campaign, he pledged to transform the United States into the “crypto capital” of the world, promising sweeping measures to foster innovation and investment in the digital currency ecosystem.

Key promises include establishing a U.S. Strategic Bitcoin Reserve, streamlining regulations, and appointing a dedicated crypto advisor. Trump’s selection of tech investor David Sacks as the administration’s crypto “czar” has fueled optimism within the industry.

“Bitcoin and blockchain are the future,” Trump stated in a recent interview. “My administration will ensure America leads this technological revolution.”

Bitcoin’s Meteoric Rise

Bitcoin’s journey to surpass $100,000 has been marked by both enthusiasm and skepticism. Created in 2009 as a decentralized alternative to traditional financial systems, the cryptocurrency has faced criticism for its volatility and association with illicit activities.

Despite this, bitcoin has attracted mainstream attention, with institutional investors entering the market in recent years. Since Trump’s electoral victory in November 2024, bitcoin has steadily climbed, reflecting expectations of favorable regulatory changes.

Monday’s surge of over $9,000 came after a brief dip to $90,000 last week, solidifying bitcoin’s position as a major global financial asset.

Policy Proposals to Boost Crypto

Trump’s administration is expected to