Bitcoin hits record above $109,000 awaiting Trump

LONDON: Bitcoin hit a record high above $109,000 on Monday as Donald Trump, who has signalled plans to deregulate the cryptocurrency sector, prepares to be sworn in as US president.

Bitcoin surged to an all-time peak of $109,241 ahead of Trump’s inauguration ceremony, before falling back to around $107,500.

The world’s biggest cryptocurrency has soared since Trump won the presidential election in November, with bitcoin surpassing $100,000 for the first time in early December.