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Bitcoin’s value surged to an all-time high of $109,241 on Monday, ahead of Donald Trump’s inauguration as US president. This milestone comes after Trump signaled plans to deregulate the cryptocurrency sector, sparking optimism among investors. 

The world’s largest cryptocurrency has seen significant growth since Trump’s presidential election win in November, surpassing $100,000 for the first time in early December.

Trump’s nomination of cryptocurrency backer Paul Atkins to head the US securities regulator reinforced expectations of deregulation. 

Notably, Trump has shifted his stance on cryptocurrencies, previously labeling them a “scam” but later becoming a vocal advocate during his election campaign.

Over the weekend, Trump launched his own cryptocurrency, $TRUMP, which sparked intense buying activity and propelled its market capitalization to several billion dollars. When Bitcoin reached $100,000, Trump took to his Truth Social platform to congratulate Bitcoiners, saying, “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will make America great again!”.

Bitcoin’s history is marked by extreme volatility, with the cryptocurrency conceived in 2008 by Satoshi Nakamoto as a decentralized platform for transactions. 

However, Bitcoin has faced criticism for its association with untraceable payments on the dark web, facilitating money laundering, and contributing to environmental concerns due to the massive energy required for mining.

However, Bitcoin has faced criticism for its association with untraceable payments on the dark web, facilitating money laundering, and contributing to environmental concerns due to the massive energy required for mining.

Despite these concerns, Bitcoin’s value has continued to rise, with investors optimistic about Trump’s plans for deregulation. The cryptocurrency’s surge has also been fueled by increased institutional investment and growing mainstream acceptance.

As Bitcoin’s value reaches new heights, experts warn of the potential risks associated with investing in the volatile cryptocurrency. “Investors should be cautious and do their due diligence before investing in Bitcoin,” said a financial analyst. “While the potential rewards are high, the risks are also significant.”

Meanwhile, Trump’s launch of his own cryptocurrency, $TRUMP, has sparked controversy and raised questions about the potential conflicts of interest. Critics argue that Trump’s involvement in the cryptocurrency market could undermine the integrity of the financial system and create unfair advantages for his own investments.

As the cryptocurrency market continues to evolve, regulators and investors alike will be watching closely to see how Trump’s policies will shape the future of Bitcoin and the broader cryptocurrency market.

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