Bitcoin climbs above $109,000 on hopes of pro-crypto Trump agenda
Bitcoin soared to a new all-time high ahead of Donald Trump’s inauguration for his second term as US president, topping $109,000 before settling around $108,214 — up 6.5 per cent.
The popular cryptocurrency’s surge reflects investors’ optimism that Trump’s incoming administration will adopt a more favourable stance towards digital assets.
The so-called “Trump effect” has spurred hopes that the president will use executive powers to reduce the regulatory burden on crypto firms and help integrate digital currencies into mainstream financial markets. Trump, who initially doubted cryptocurrencies, has reversed course with a pledge to make America “the crypto capital of the planet” and to create a “strategic…
