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As of 9:24 am EST on Monday, 20 January 2025, Bitcoin’s price surged by 2.93% during trading, reaching $107,825.36, with a market cap of $2.136 trillion and a 24-hour trading volume of $114.34 billion, reflecting growing investor confidence.
Bitcoin has reached a new all-time high of $109,558 during early trading hours on January 20, 2025, aligning with President Donald Trump’s inauguration day. Market speculation centers around the possibility of Trump establishing a Strategic Bitcoin Reserve (SBR) through an executive order. This idea has been discussed for months, and a surge in the odds of such a move, hitting 59% on Polymarket, coincided with Bitcoin’s price jump.
The speculation was fueled by recent meetings between influential Bitcoin advocates, including Senators John Barrasso and Cynthia Lummis, and Trump’s administration. Lummis has been working on legislation for a government Bitcoin reserve, proposing the purchase of 1 million Bitcoin.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.