Today, ahead of President-elect Trump’s inauguration, Bitcoin has surged by 5.5%, reaching a new record high of $109,241.
Other major tokens like Ether and XRP also rose today, with financial analysts predicting crypto to jump even higher in the hours after Trump assumes control of the White House.
Once in office, Trump aims to make the US “the world’s crypto capital” through crypto-friendly policies and the establishment of a strategic government Bitcoin stockpile.
On Sunday, Trump and his wife Melania released their brand of cryptocurrency, or meme coin, called “$Trump.” Within hours, the coin reached over $15 billion before the market declined sharply.
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” Trump announced on Truth Social, Friday.
$Trump is 80% owned by CIC Digital LLC and Fight Fight Fight LLC, a company formed in Delaware earlier this month.
According to the coin’s website, approximately 200 million of the digital tokens have already been issued with another 800 million due to be released in the next three years.
By CEO NA Editorial Staff
