Fadi Aboualfa, head of research at Copper.co, said the price of bitcoin is likely to reach $100,000 by the time Trump takes office on January 20, 2025. In written comments sent to CNBC after news of Trump's election win, Aboualfa said: "It is worth remembering for bitcoin that Trump witnessed two historically high cycles during his 2016-2020 presidency. While these gains have come against the backdrop of a weaker dollar, unlike the environment in which the dollar is strengthening today, the momentum is likely to remain positive in the coming months given that the Bitcoin Spot ETF currently holds about 1.10 million bitcoins."