Bitcoin, the world’s largest cryptocurrency hits an all-time high of 109,241 dollars on January 20 as Donald Trump prepares to take over the white house as president of the United States.
Ahead of the crypto-friendly president’s inauguration and the launch of $TRUMP and $MELANIA issued by Trump and his wife, Melania Trump, Bitcoin surged 5.5 per cent to set a new record according to the report from Bloomberg, reports News Agency of Nigeria (NAN).
The surge came after Trump and Melanin introduced meme coins over the weekend with $TRUMP briefly reaching a market capitalization of more than 15 billion dollars before falling sharply.
The meme coin has disrupted the digital asset market reducing influence into bitcoin and smaller tokens and drawing criticism from industry experts.
Bitcoin, Ethereum (the second largest crypt currency), and XRP or surged Monday morning in London as traders counted down the hours before Trump official returned to the white house.
Bloomberg News reported that he was considering an exclusive order that will deem crypto assets in ‘’National priority’’.
Ben El-baz, CEO of Hashkey Global said that the launch of meme coins by Trump and his team has further fuelled Bitcoin’s rally, as retail traders expect the republican president to prioritize and reaffirm his commitments to the crypto industry.
