Bitcoin Surges Before Trump’s Inauguration: A New Crypto Era?

Bitcoin has hit a new high, crossing $109, 000, ahead of President-elect Donald Trump’s inauguration. The cryptocurrency market is buzzing with excitement, hoping that Trump will bring changes favorable to digital currencies. Once a skeptic, Trump now supports crypto and has promised to make the U. S. the “crypto capital” of the world. He plans to create a U. S. crypto stockpile, enact friendly regulations, and even appoint a crypto “czar. ” Critics warn that cryptocurrencies are volatile and often used for illegal activities. However, crypto has shown resilience, surviving multiple price drops. Wealthy crypto investors supported Trump’s election, hoping for a friendlier regulatory environment. Trump’s cabinet picks include crypto supporters, signaling a potential shift in policy. A “Crypto Ball” was even held to celebrate the first “crypto president. ” Trump’s early actions could include forming a special advisory council for crypto regulations and establishing a Strategic Bitcoin Reserve. He has also promised to commute the life sentence of Ross Ulbricht, the founder of the drug-selling website Silk Road, which used crypto for payments. This move has energized some crypto advocates and libertarian activists.