The value has increased Bitcoin by about 45 percent since Trump’s landslide victory in the elections held on November 5, which also witnessed the election of a large number of pro-cryptocurrency lawmakers in Congress.
However, the cryptocurrency’s gains were more conservative on Friday.
After touching a new record level above $99,800, the currency fell slightly to trade at a rise of 1.33 percent during the day at about $99,383.
However, the momentum for further gains has begun to be strong as the currency is heading for weekly gains of more than ten percent for the third week in a row.
It is also on track for its best monthly performance since February.
The rise in the value of Bitcoin made it one of the biggest winners in so-called policy betting trades Trump.
It seems that the cryptocurrency has become on the cusp of acceptance by the mainstream since its launch 16 years ago.
“The longer it stays in place, the more seriously it is taken, that’s the way things are,” said Shane Oliver, chief economist and head of investment strategy at AMP Sydney.
He continued: “As an economist and investor, I find it very difficult to evaluate this phenomenon… No one can predict this.
But there is an element of momentum to it, and at the moment the momentum is increasing.”
The value of Bitcoin has risen by about 130 percent this year alone.
Trump announced his support for digital assets during his election campaign, promising to make the United States “the cryptocurrency capital of the world” and amass a national stock of Bitcoin currencies.
