In the run-up to President-elect Donald Trump’s inauguration on January 20, Bitcoin has seen a significant surge, recently hitting an all-time high of $108,244.

This upward trajectory is largely attributed to the expectation of crypto-friendly policies under the incoming administration.

Notably, the order could create a national Bitcoin repository using the government’s $20 billion in confiscated Bitcoin holdings, the report said.

The appointment of Paul Atkins, a well-known crypto advocate, as the incoming chairman of the Securities and Exchange Commission (SEC) is particularly noteworthy.