"God candle," Samson Mow, a bitcoin developer who leads the Jan3 bitcoin wallet company, posted to X as the bitcoin price suddenly soared, hitting $109,400 on the Coinbase bitcoin and crypto exchange.

The price of bitcoin topped $100,000 again early Friday as a pumped up cryptocurrency industry expects early action by Donald Trump when he’s sworn in as president next week.

In December, Trump tapped Paul Atkins to lead the Securities and Exchange Commission. Atkins, a former SEC commissioner under President George W. Bush, has worked recently on digital assets and is set to replace Gary Gensler, who is seen by many as a crypto critic.