Bitcoin soared to a record high above $109,000 today as President-elect Donald Trump signaled plans to deregulate the cryptocurrency sector. The world’s largest cryptocurrency peaked at $109,241 before settling back to $107,765, reflecting investor optimism ahead of Trump’s inauguration.
The surge in Bitcoin’s value has been fueled by Trump’s pro-cryptocurrency stance since his election victory in November. The digital currency crossed the $100,000 mark for the first time in early December and has continued its upward trajectory.
Contributing to this bullish sentiment was Trump’s nomination of Paul Atkins, a known cryptocurrency supporter, to head the U.S. Securities and Exchange Commission. This move has heightened expectations of regulatory easing, further driving enthusiasm and investment in the cryptocurrency market.
