CNBC Reports Bitcoin Could Hit $100k Before January 20, 2025

Following Donald Trump’s election victory on November 5, the crypto market experienced a substantial upsurge, with Bitcoin exceeding its previous all-time high to attain an unprecedented price mark. Amidst the bullish uptrend, a CNBC report predicted that Bitcoin could hit a new milestone before January 20, 2025. 

News chronicler Mackenzie Sigalos stated on CNBC Business News on Wednesday that multiple analysts believe Bitcoin will surge to $100,000 before the presidential inauguration. Notably, the report cited growing enthusiasm among investors amidst Trump’s pro-crypto promises.

Investors Confident of a Friendly Crypto Environment 

Trump received massive support from the crypto community, with over $25 million in donations to support his presidential campaign. In the wake of the digital asset rally, the CNBC report stated that investors are banking on the Republican president to establish a crypto-friendly environment that will positively affect their investments.  

The report highlighted that Trump made three major promises to the crypto community, and their fulfillment will substantially boost the ecosystem. Notably, the president-elect pledged to fire SEC chair Gary Gensler. The SEC boss, whom President Biden appointed, has successfully brought over 100 enforcement actions against industry leaders such as Coinbase and Robinhood. 

However, following the announcement of Trump’s victory, Coinbase and Robinhood have seen a substantial uptick, with their stocks surging 31% and 19.63%, respectively, in the past 24 hours.

Meanwhile, Trump pledged to create a US national stockpile, noting that he intends for the remaining future Bitcoin to be mined in the United States.  With his conquest and solid support from the Republican-controlled Senate, investors are confident he would keep his part of the bargain.

Growing US Investor Interest 

The crypto market has witnessed a bullish surge following the US presidential election, driven by growing institutional investor interest. Although Trump has yet to assume office, positive sentiments around his pro-crypto stance have elated investors, who seem poised to position themselves for maximum gain.

This positive sentiment is seen in the surging traction from US investors towards the US Bitcoin spot exchange-traded funds. Cointab revealed that the Bitcoin investment vehicles recorded their third-best seven-day inflow, totaling $2.2 billion in the past week.

Following yesterday’s US election result, on-chain data shows that Bitcoin spot ETFs saw their first inflow in four days, recording over $621 million influx. Fidelity’s FBTC led the flow with a massive $380 million, with Grayscale’s BTC and GBTC funds recording an inflow of $108.8 and $30.9 million, respectively.