Donald Trump has taken oath as the 47th President of the United States. Virtual currency Bitcoin is also celebrating Trump's becoming President. Even before the swearing-in ceremony, there was a great jump in the price of Bitcoin. Before Donald Trump took oath as US President, the price of Bitcoin had exceeded $ 1.09 lakh on Monday morning. This is a new all-time record. In fact, the cryptocurrency industry hopes that Trump will take steps to promote digital currency soon after returning to the White House.

Earlier bitcoin was told to be a scam

Trump described bitcoin as 'a scam' a few years ago, but his stance has changed recently. Trump has also launched a new cryptocurrency venture and has promised to take steps early in his term to make the US the 'crypto capital' of the world. His promises include creating a US crypto reserve, implementing industry-friendly regulation and appointing a crypto 'czar' for his administration. Bitcoin is the world's most popular virtual currency (cryptocurrency), which was created in the year 2009 as an electronic currency not controlled by banks or governments.

2 years ago the price was only $20,000

However, cryptocurrencies have been criticized for their highly volatile nature and use by criminals, scammers and some countries. Since Trump was re-elected, the price of bitcoin has jumped significantly. Last month, it reached above one lakh dollars for the first time. However, it later fell to around 90,000 dollars. Meanwhile, its prices rose on Friday before Trump took the oath of office. According to CoinDesk, the price of bitcoin jumped by about five percent i.e. $ 9,000 to $ 1.09 lakh on Friday morning. Two years ago, the price of one bitcoin was around $ 20,000.