Cryptocurrency exchanges like Coinbase, Binance, and CoinMarketCap for daily closing prices

Bitcoin Hits Record $109,241 Ahead of Trump's Inauguration; Trump Cites 'The Trump Effect'

Jan 20, 2025, 08:17 AM

Bitcoin has reached a new all-time high, surpassing $109,241, ahead of President-elect Donald Trump's inauguration on January 20, 2025. The cryptocurrency surged 4% in 24 hours, marking a significant milestone as it crossed the $109,000 threshold. Trump has credited his election victory for the surge in both the stock market and Bitcoin, attributing the rise to 'the Trump Effect.' He stated, 'Since the election, the stock market has surged. Bitcoin has shattered one record high after another.' Analysts suggest that the expectation of pro-crypto policies under Trump's administration, including plans to deregulate the cryptocurrency sector, is fueling market optimism. Bitcoin's market capitalization has now surpassed $2 trillion.