Bitcoin shook off its early losses during trading on Tuesday.
Bitcoin recently cost just under $107,000. In the morning the price was still around $101,500, having climbed to just under $109,400, a record, before Donald Trump’s inauguration on Monday morning.
Bitcoin has risen significantly since Trump’s election in November, after hovering between $50,000 and $70,000 for months. Trump promised to ease cryptocurrency regulations. He is also in favor of a national Bitcoin reserve in the USA. Overall, Bitcoin has been in an upward trend for two years. At the beginning of 2023, a Bitcoin cost less than $20,000.
NEW YORK (dpa-AFX)