Bitcoin Soars to Record $109K Ahead of Trump’s Inauguration

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In just a few minutes, the value of Bitcoin jumped over 6% to a record high, just before Donald Trump’s swearing-in ceremony as the President of the United States.

On January 20th, the price of Bitcoin (BTC) momentarily soared beyond $109,000, shattering its earlier record high of approximately $108,000 that was set on December 17, 2024.

Based on information from TradingView, Bitcoin reached an unprecedented peak of $109,036 at 6:55 am UTC. However, within a few short minutes, its price dipped slightly below $108,000.

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Currently, Bitcoin is valued at approximately $108,342 per coin, marking a 3% increase in value over the preceding 24-hour period, as indicated by information from CoinGecko.

Just prior to Donald Trump’s inauguration as the 47th U.S. President at 4:00 pm UTC, Bitcoin reached a new peak.

Trump’s inauguration sparked a significant boost in the cryptocurrency market, as his election win on November 6th ignited a huge crypto upswing that eventually pushed Bitcoin prices beyond $100,000 for the very first time by early December 2024.

Enthusiasm about Trump’s administration among cryptocurrency enthusiasts is predominantly fueled by his proposed forward-looking cryptocurrency initiatives, such as the possibility of creating a strategic Bitcoin reserve and relaxing regulatory restrictions on digital currencies.

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This is a developing story, and further information will be added as it becomes available.

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2025-01-20 10:42