Bitcoin Hits New ATH Driven by TRUMP Mania

Bitcoin hits record high of $109,241 as US prepares for crypto-friendly President-elect Donald Trump's inauguration The cryptocurrency surged 5.5% amid excitement over Trump's meme coins, although the market later fell.

Azcnews Bitcoin Hits New Ath Driven By Trump Mania

Bitcoin, the world’s largest cryptocurrency, hit an all-time high of $109,241 on January 20, as Donald Trump prepared to officially take over the White House.

Ahead of the crypto-friendly president’s inauguration and the launch of the $TRUMP and $MELANIA meme coins issued by Trump and his wife, Melania Trump, Bitcoin surged 5.5% to set a new record, according to a report from Bloomberg.

The surge came after Trump and Melania introduced the meme coins over the weekend, with $TRUMP briefly reaching a market capitalization of more than $15 billion before falling sharply.

Bitcoin Price Chart
Bitcoin Price Chart

The meme coins have disrupted the digital asset market, reducing inflows into Bitcoin and smaller tokens and drawing criticism from industry experts.

Bitcoin, Ether (the second-largest cryptocurrency), and XRP all surged Monday morning in London as traders counted down the hours before Trump officially returned to the White House. Bloomberg News reported that he was considering an executive order that would deem crypto assets a “national priority.”

Read more: Donald Trump’s Project Acquires a Large Amount of ETH

The launch of meme coins by Trump and his team has further fueled Bitcoin’s rally, as retail traders expect the Republican president to “prioritize and reaffirm his commitment to the crypto industry,” said Ben El-Baz, CEO of HashKey Global.

(2 votes)

3.0/5

(2 votes)

Latest

Pump.fun Acquires Kolscan Wallet Tracker Ahead Of $600 Million Ico

News | Editor Choice | Memecoin

Pump.fun Acquires Kolscan Wallet Tracker Ahead of $600 Million ICO

Pump.fun has unexpectedly acquired the Kolscan wallet tracking tool just ahead of its $600 million ICO, aiming to enhance its analytics capabilities and expand its social trading ecosystem on the blockchain.

Xrp Could Surge To $11, $20, Or Even $30 If Historical Pattern Repeats

News | Altcoin | Editor Choice

XRP Could Surge to $11, $20, or Even $30 If Historical Pattern Repeats

XRP is expected to enter a strong bullish cycle after successfully retesting a key EMA level, with potential price targets of $11, $20, or even $30 if historical trends repeat.

Invite Friends For Big Rewards On Mexc!

Airdrops | Editor Choice

Invite Friends for Big Rewards on MEXC!

Join the referral program at MEXC and invite your friends to trade cryptocurrencies to earn exciting rewards!

Robinhood Launches Ethereum And Solana Staking For U.s. Users

News | Editor Choice | Policy & Regulations

Robinhood Launches Ethereum and Solana Staking for U.S. Users

Robinhood has officially launched Ethereum and Solana staking for U.S. users, allowing participation starting from just $1 as it ramps up its ambitions in the crypto space.

Bnb Foundation Continues To Burn Bnb Worth Up To $1 Billion

Airdrops | Editor Choice

BNB Foundation Continues to Burn BNB Worth Up to $1 Billion

The BNB Foundation has announced its 32nd token burn, destroying 1,595,599.78 BNB, equivalent to approximately $1.024 billion. This reduces the total remaining supply to 139,289,513.94 BNB.