Bitcoin surged to a new all-time high on Friday, edging closer to the $100,000 milestone amid a remarkable rally fueled by optimism over a potentially favorable regulatory environment under the incoming Donald Trump administration.
The cryptocurrency has more than doubled in value this year and gained approximately 45% in the two weeks following Trump’s decisive election victory, which also ushered several pro-crypto lawmakers into Congress.
Bitcoin was last trading up just over 1% for the day at $99,380, positioning it for its strongest monthly performance since February.
This rally has cemented Bitcoin as one of the standout beneficiaries of so-called “Trump trades,” referring to assets predicted to thrive or falter based on Trump’s policies.
