• Source:JND
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As United States president-elect Donald Trump prepares to take over the White House on January 20, the world’s largest cryptocurrency, Bitcoin, reached an all-time high of USD 109,241. This milestone comes amidst a flurry of global financial activity, with digital assets gaining increasing prominence in the mainstream financial market.

Bitcoin’s remarkable surge has been attributed to a variety of factors, including heightened investor interest, global economic uncertainty, and increased adoption by institutional investors. As the cryptocurrency market continues to mature, Bitcoin’s dominance has solidified its position as a store of value and a potential hedge against inflation and geopolitical risk.

Ahead of President Donald Trump's inauguration and the launch of his and Melania Trump's meme coins — $TRUMP and $MELANIA — Bitcoin surged by as much as 5.5 per cent to set a new all-time high. According to Coinmarketcap data, Trump's meme coin reached a market capitalisation of USD 11 billion, down from a high of USD 15 billion, while Melania's token quickly gained momentum with a market cap nearing USD 2 billion just hours after its release.

Bitcoin’s market cap also reached an all-time high of USD 2.14 trillion, a 176 per cent increase from USD 774 billion a year ago. The cryptocurrency has continued to rise since Trump’s presidential victory, climbing from approximately USD 75,000 in early November.

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Trump’s Cryptocurrency Deregulation Push Fuels Bitcoin’s $100,000 Milestone

Bitcoin has seen significant growth since Trump's election win in November, surpassing USD 100,000 for the first time in early December. This surge was fueled by optimism that Trump’s presidency would lead to deregulation of the cryptocurrency sector, especially after he nominated Paul Atkins, a cryptocurrency advocate, to head the US securities regulator. Bitcoin, created in 2008 by the pseudonymous Satoshi Nakamoto, was introduced as a way to move beyond traditional financial institutions by establishing a decentralized platform for transactions.

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