Bitcoin Hits New Record Ahead of Trump's Inauguration
The Bitcoin price has set a new record, surpassing the $109,000 mark amidst expectations of a cryptocurrency regulation softening by Donald Trump, reports NewsBox.
On Monday, Bitcoin reached an all-time high, climbing above $109,000.
This record was established just before Donald Trump's inauguration, who frequently expressed support for cryptocurrencies during his election campaign.
According to Barron's, the price of Bitcoin hit $109,241, while CoinDesk reported the rate at $107,617.
Over the past weekend, Donald Trump, along with his wife Melania, announced the launch of their cryptocurrencies on the Solana blockchain.
Trump himself introduced the TRUMP memecoin on The Truth Social platform and social media network X, indicating that the token's market cap reached $15 billion but later fell below $8 billion after the release of the MELANIA cryptocurrency.
In total, 1 billion TRUMP memecoins have been created, with 200 million available initially.
The majority of the tokens (80%) belong to Trump Organization's subsidiary, CIC Digital, and Fight Fight Fight LLC, the name of which is linked to Trump's campaign slogan.
Previously, CIC Digital engaged in the sale of NFTs and memorabilia connected to the politician's campaign.