Bitcoin price sets new all-time high at $109k as Trump inauguration approaches
Bitcoin reached a brand new all-time excessive on Monday as pleasure grows over President-elect Donald Trump presumably mentioning Bitcoin reserves in his inauguration speech.
Bitcoin (BTC) value recorded its new all-time excessive of $109,114 on Monday, Jan. 20, earlier than retracing barely. The world’s largest crypto is buying and selling at $106,940, gaining round 2% over the previous 24 hours, per crypto.information’s Bitcoin value web page.
This value surge pushed the overall crypto market cap to $3.7 trillion. The leap comes because the crypto group buzzes with hypothesis that Donald Trump will handle Bitcoin’s strategic reserve throughout his inauguration speech, which begins at midday Jap Time on Monday, Jan. 20, contained in the Capitol Rotunda. To this point, Trump hasn’t confirmed that he’ll discuss Bitcoin, however rumors are nonetheless swirling that he’ll accomplish that.
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Professional-crypto Senator Cynthia Lummis, a Republican from Wyoming, formally introduced the BITCOIN Act to the U.S. Senate on July 31. The invoice goals for the U.S. Treasury to amass 1 million Bitcoin — about 5% of the overall provide. To realize this, Lummis proposes utilizing present U.S. Treasury funds to buy Bitcoin in portions that align with the Treasury’s present gold holdings.
Regardless of Bitcoin’s value spike, it nonetheless lags behind some altcoins, which have been seeing massive returns after Trump’s meme coin launch on Solana. Tokens like MELANIA (MELANIA), Fartcoin (FARTCOIN), and Aave (AAVE) have gained 68%, 35%, and 18% respectively within the final 24 hours.
