Did President-elect Trump just ignite a Bitcoin firestorm? Many crypto-related stocks posted big gains on Friday, just ahead of next week's inauguration.

Bitcoin appears to be back on track toward record highs with the second presidential inauguration of pro-crypto Donald Trump just days away.

Bitcoin ( BTC 4.81%) has led the way, rising 5.6% in the past 24 hours as of 12:30 p.m. ET and nearly crossing $105,000 per token. Ethereum ( ETH 3.33%) is up a more modest 2.6% in that time, and Dogecoin ( DOGE 8.00%) is up 7.3%.

Donald Trump, the self-styled bitcoin and crypto president, will reportedly issue several crypto-related executive orders on his first day back in the White

The fall comes after the cryptocurrency experienced a meteoric rise, fueled in part by the reelection of Donald Trump.

A leak has revealed the incoming Trump administration could create a wider crypto reserve—prioritizing U.S.-created cryptocurrencies such as XRP and

Gary Gensler has described crypto as the Wild West and one observer said markets are likely to see just that under new leadership in D.C.

That calculation is based on the roughly 6% of bitcoin’s total supply now locked up in a variety of ETFs. Similar performance by a LTC product would yield more than $500 million of inflows for the token, which has a similar Proof of Work consensus mechanism to that of BTC.

One year ago today, Gary Gensler and the Securities and Exchange Commission (SEC) finally capitulated and approved the trading of spot bitcoin exchange traded funds (ETF) to go live the next day. These ETFs would go on to be the best performing ETFs in history, with BlackRock’s ETF $IBIT leading the charge, taking in over $52 billion inflows alone.

The Bitcoin mining industry has supported Donald Trump since he promised to make America the mining capital of the world.