The post Record-Breaking Bitcoin: Surges Past $109,000 On Trump’s Presidential Inauguration Day appeared on BitcoinEthereumNews.com.

The market’s leading cryptocurrency, Bitcoin (BTC), has reached a new all-time high, soaring past the $109,000 mark on Monday as anticipation builds around the inauguration of incoming President Donald Trump.  Trump Family’s Memecoins Create Market Stir According to CNBC, this surge can be partly attributed to the recent launch of two memecoins by the Trump family. Over the weekend, Trump unveiled the “Official Trump” (TRUMP) memecoin, which skyrocketed to a market capitalization of $10.6 billion, reflecting an astonishing increase of over 659% since its Friday debut.  However, the TRUMP memecoin has experienced some volatility, dropping approximately 27% from its peak price of around $73 per coin on Monday. Adding to the excitement, Melania Trump launched her own memecoin, aptly named “Melania,” which began trading Sunday evening. The memecoin has managed to establish a $1.3 billion market cap and has seen a 14% increase since its launch.  The introduction of the Melania memecoin has significantly impacted the value of the official Trump coin. At one point, TRUMP nearly halved its market cap, dropping from its previous position as the 12th largest cryptocurrency to now ranking 22nd in terms of market capitalization.  Despite the inherent risks associated with memecoins, the report observes that these launches have instilled a renewed sense of optimism among traders, suggesting that the incoming administration may adopt a favorable stance towards cryptocurrency.  Joel Kruger, a market strategist at LMAX, noted that this initiative signals President Trump’s commitment to the crypto space, emphasizing that Americans should have the freedom to explore emerging asset classes. “The move highlights President Trump’s embrace of crypto and belief that Americans should have the freedom to operate in the emerging asset class,” Kruger stated.  The expert further elaborated that endorsing memecoins—often viewed as the most speculative segment of the cryptocurrency market—sends a powerful message of…

---

Filed under: News - @ January 21, 2025 8:21 am