Bitcoin Hits $106,000 With 70% Chance of U.S. National Bitcoin Reserve Under Trump

Jan 19, 2025, 04:54 PM

Bitcoin has surged past $106,000 as anticipation builds ahead of Donald Trump's inauguration, with market speculation fueled by the possibility of early action on cryptocurrency by the incoming administration. According to prediction markets like Kalshi, there is now a 70% chance that Trump will establish a U.S. national Bitcoin reserve in 2025. This move is seen as part of Trump's broader strategy to position the U.S. as a 'crypto capital,' following his shift from skepticism to support for digital currencies during his campaign. The cryptocurrency reached $105,000 earlier in the week, reflecting strong investor confidence ahead of Trump's inauguration.