Investing.com– Bitcoin rose Monday, racing to a record high as traders piled into the world’s largest cryptocurrency in anticipation of friendlier crypto regulations under President-elect Donald Trump, who will take office later in the day.
At 08:55 ET (13:55 GMT), traded 2.7% higher to $107,750, having earlier hit a record high of $109,590.
The crypto rose in volatile trade, with crypto market volatility having ramped up over the weekend after Trump launched his own memecoin, $TRUMP, to outsized demand. The token became one of the most valuable cryptocurrencies in less than a day, but logged wild swings in the process.
Trump policies in focus as inauguration looms
Trump is set to take office later Monday, and the President-elect has promised to dole out crypto-friendly regulations during his second term, and has vowed to make America the “crypto capital” of the world.
While…
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