Bitcoin Rockets Past $109,000 as Trump Prepares for White House Return, Promises Crypto-Friendly Policies

Early Monday, Bitcoin (BTC-USD) surged past $109,000, marking a historic high just hours before President-elect Donald Trump's inauguration. The cryptocurrency community is abuzz with anticipation, banking on Trump’s pro-crypto agenda.

Trump, once a vocal critic of Bitcoin—famously calling it a "scam"—has become a staunch supporter of digital currencies. During his campaign, he pledged to transform the United States into the "crypto capital" of the world. His bold promises include building a U.S. cryptocurrency reserve, enacting favorable regulations, and appointing a dedicated "crypto czar" to spearhead his administration's efforts in the sector.

“You’re going to love what I have in store,” Trump assured Bitcoin enthusiasts at a conference last summer, signaling his commitment to the industry.

Bitcoin, launched in 2009 as decentralized digital cash, has had a tumultuous rise from obscurity to mainstream recognition. Its volatility, as well as its association with illicit activities, has drawn skepticism. Critics argue that cryptocurrencies are speculative assets with limited utility, often likened to Ponzi schemes.

However, crypto has repeatedly proven resilient, weathering severe market downturns. The industry's wealthy backers, frustrated by regulatory hurdles under the Biden administration, played a significant role in Trump’s electoral victory last November. Bitcoin's meteoric rise, which saw it exceed $100,000 for the first time last month, is widely attributed to renewed optimism about the sector under Trump’s leadership.

Following a brief dip to $90,000, Bitcoin gained 5% on Friday and surged another $9,000 early Monday. Investors and crypto enthusiasts are now eagerly watching how Trump’s policies might reshape the future of digital assets.