Blackrock's Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), recorded an astonishing trading volume of nearly $1.1 billion within the first 20 minutes following Donald Trump’s presidential election victory on November 5, 2024, according to Bloomberg. Analysts are optimistic that Bitcoin's price will continue to rise with Trump, a supporter of cryptocurrency, expected to take office for his second term in January 2025. Fadi Aboualfa, head of research at Copper.co, estimates that Bitcoin could reach a valuation of $100,000 by the time of the inauguration. This surge in activity is attributed to the regulatory environment under the previous Biden administration, which had taken a stringent approach to cryptocurrency, and the contrasting crypto-friendly stance of Trump.

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