Bitcoin soared to $109,241 after Trump’s presidency
Bitcoin’s price hit a new record again on January 20, 2025, reaching 109,241 dollars, up 5.5% on the same day as “Donald Trump” vowed to take office as the 47th U.S. president. Other crypto coins such as Ether and XRP also rose simultaneously.
Bitcoin prices were also boosted by the flow of memes Trump and Melania, his wife, launched as $TRUMP and $MELANIA. Trump’s coins were launched on January 19 and used to reach $15 billion before prices fell, while Melania’s coins were launched on January 20.
In the early days of the introduction of the $TRUMP coin, the crypto market did not receive much response and there has also been criticism from people in the crypto industry. Over time, investors have begun to see Trump’s entry into the crypto market as an important strategy to push for digital asset-friendly policies and motivate the new government to support more crypto.
The crypto boom continued, previously on December 16, 2024, Bitcoin hit a record high of $105,000 after the news that “Trump planned to set up a Bitcoin Strategic Reserve Fund to strengthen financial security.
IG analyst “Tony Sycamore,” said that since Trump won the election on November 5, 2024, bitcoin prices have risen more than 50%, supported by Trump’s proactive crypto policy and that the new government is expected to move forward to remove the old restrictions that hinder the industry.
Experts also estimate that the price of Bitcoin could hit 200,000 dollars over the next few months. The main contributor is the victory of the Republican majority in both the Senate and the House of Representatives, which helps Trump effectively push ahead with his policies to boost the crypto industry, including his goal of becoming a global crypto hub. He also nominated “Paul Atkins.” to be a chairman of the U.S. Securities and Exchange Commission (SEC), which is expected to contribute to the growth of the crypto industry.
With many positive factors, including record-breaking bitcoin prices and Trump’s return as U.S. leader, 2025 may become another golden year for cryptocurrencies, especially Bitcoin, which may soar to new levels again this year.
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