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Cryptocurrency News Articles
Bitcoin Hits $100,000 as Trump’s Pro-Crypto Agenda Fuels Optimism
Jan 16, 2025 at 10:15 am
Over the past 24 hours, Bitcoin’s price journey has been dramatic, driven by key economic data and the imminent inauguration of Donald Trump
After teasing the possibility for months, Bitcoin finally breached the $100,000 mark on Friday, propelled by anticipation of pro-crypto policies from Donald Trump and key economic data.
The world’s apex cryptocurrency soared to a record high of $100,024 in the early hours of الجمعة, according to the Bitcoin Liquid Index, marking a pivotal moment in crypto history.
Bitcoin's price soared to new heights on Friday. Source: TradingView
Anticipation Builds for Trump's Pro-Crypto Policies
Adding to the optimism, Donald Trump is set to return to the presidency, with reports emerging of executive orders geared toward bolstering the crypto industry.
Trump's administration has hinted at measures to ease regulatory hurdles for blockchain innovation and potentially position Bitcoin as a key component of the nation's economic strategy. These announcements have sparked enthusiasm within the crypto community, with analysts predicting that Trump's policies could usher in a golden age for digital assets.
“Bitcoin hitting $100,000 is a testament to its growing legitimacy as a global reserve asset and a hedge against inflation,” said Samson Mow, CEO of Bitcoin adoption firm JAN3, in a statement. “With pro-crypto leadership in Washington, the sky’s the limit for where Bitcoin can go.”
Bitcoin's Journey to $100K: A Roller Coaster Ride
The path to this landmark price was filled with twists and turns. Just a day prior, Bitcoin briefly dipped below $90,000 before rebounding sharply as anticipation grew around Trump's policy announcements.
Softer-than-expected Producer Price Index (PPI) data also provided a tailwind, suggesting that inflationary pressures may be easing. Other cryptocurrencies joined the rally, with XRP and Dogecoin leading gains of up to 10%.
Now trading solidly above $100,000, Bitcoin is up nearly 5% in the past 24 hours. According to analysts, this could be the beginning of the next stage of the Bitcoin bull run. Bitwise is doubling down on its Bitcoin price prediction that suggests the cryptocurrency could go as high as $200,000 in 2025, driven by an influx of institutional capital and favorable macroeconomic conditions.
A Global Shift Toward Bitcoin Reserves
Bitcoin's ascent isn't just an American story. Governments around the world are increasingly exploring its potential as a strategic reserve asset.
El Salvador, which famously adopted Bitcoin as legal tender, has already acquired over 6,000 BTC. At the same time, countries like Brazil and the Czech Republic are actively discussing Bitcoin's role in their sovereign reserves, highlighting its ability to bolster economies and protect against geopolitical risks. All eyes will be on Trump to see if he announces a U.S. Bitcoin Strategic Reserve in the early days of his presidency.
What Lies Ahead for Bitcoin?
Despite some skepticism, the momentum behind Bitcoin is undeniable. Trump's inauguration on January 20 is expected to amplify the spotlight on crypto further, as his administration signals a strong commitment to blockchain innovation.
Analysts will be keeping a close watch on the Federal Reserve's next moves, as monetary policy continues to be a key driver of Bitcoin's price dynamics.
As Bitcoin crosses the $100,000 threshold, the excitement is palpable. For many, this milestone marks not just a price point, but a testament to Bitcoin's growing significance in the global financial landscape. With a pro-crypto president taking office and accelerating global adoption, the future appears brighter than ever for the world's leading cryptocurrency.
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