Bitcoin price could leap over $2,000, thanks to Donald Trump

Popular digital currency bitcoin has already surged 75 percent over the course of 2016—but that’s peanuts compared to 2017, when analysts expect the cryptocurrency to ramp up another 165 percent.

The reason? U.S. President-elect Donald Trump.

More specifically, Trump’s “spending binge” may cause the digital currency to hit over $2,000 next year, according to a report released by Denmark-based Saxo Bank.

During the campaign season, Trump talked about a possible increase in fiscal spending, which could increase U.S.’s national debt—currently at roughly $20 trillion—and triple the current budget deficit from an estimated $600 billion to $1.2-1.8 trillion. This, in turn, could cause the inflation to “sky rocket” and eventually force the U.S. Federal Reserve to hike interest rates faster, resulting the already surging dollar to “hit the moon.”