Bitcoin Price Hits New All-Time High of $109K as Trump Inauguration Nears

Bitcoin has hit a new all-time high, surpassing $109,000 for the first time on January 20, 2025, before slightly retracing to around $106,940. This new price milestone comes amid growing anticipation surrounding the potential mention of Bitcoin by President-elect Donald Trump in his inauguration speech. Speculation is rampant within the crypto community that Trump might discuss Bitcoin’s strategic reserve, which could have a significant impact on the price of the cryptocurrency.

The surge in Bitcoin’s price has also driven the total cryptocurrency market cap to $3.7 trillion, reflecting the increasing enthusiasm for digital assets. Bitcoin’s all-time high comes just ahead of Trump’s inauguration speech, set to take place in the Capitol Rotunda at noon Eastern Time on January 20. While Trump has not confirmed he will discuss Bitcoin, rumors are swirling that he could use the occasion to highlight the role of Bitcoin in the future U.S. financial system.

This heightened speculation is fueled by previous pro-crypto initiatives, such as the introduction of the BITCOIN Act by Senator Cynthia Lummis. The bill, proposed in July 2024, seeks to have the U.S. Treasury acquire 1 million Bitcoin, which would constitute around 5% of the total Bitcoin supply. The proposal suggests using existing U.S. Treasury funds to buy Bitcoin in quantities similar to current gold holdings, further aligning the U.S. government’s strategy with digital currency adoption.

Despite Bitcoin’s impressive price surge, some altcoins have also seen significant growth. In particular, the launch of Trump’s meme coin on the Solana network has contributed to a rise in other tokens. MEMELANIA, Fartcoin, and Aave have recorded price increases of 68%, 35%, and 18%, respectively, over the past 24 hours. While Bitcoin remains the dominant player in the market, the ongoing boom in meme coins highlights the growing interest in a wider array of digital assets.

In summary, Bitcoin’s new all-time high of $109,114 is buoyed by speculative excitement surrounding Donald Trump’s potential remarks on Bitcoin in his inauguration speech, as well as the broader growth of the crypto market. With further legislative efforts like the BITCOIN Act and the rise of meme coins, the cryptocurrency landscape remains dynamic and full of potential.