Bitcoin Hits Record $109,588 as Trump Presidency Sparks Crypto Surge
Bitcoin soared to a historic high of $109,588 on Monday, just hours before the inauguration of President-elect Donald Trump, igniting optimism among crypto investors and reinforcing market momentum. Over the past year, the world's leading cryptocurrency has surged more than 158 percent, fueled by hopes of a pro-digital asset administration.
Trump Touts Market Gains and Bitcoin Boom
During a Sunday speech, Trump celebrated both Wall Street’s rally and Bitcoin’s unstoppable ascent, underscoring his vision for a market-friendly presidency.
The stock market has surged and small business optimism has soared a record 41 points to a 39-year high. Bitcoin has shattered one record high after another.
Donald Trump
As of 11:50 GMT on Monday, Bitcoin climbed another 6.76 percent to reach $108,081, continuing a week-long bullish trend with gains exceeding 14 percent.
Melania and Trump Launch Meme Coins
In a surprising twist, both Donald and Melania Trump entered the memecoin arena. On Sunday, Melania announced her token, $MELANIA, via the X platform, urging followers to invest. The token traded at $9.62 after peaking at $13.64 earlier that day.
Trump, on the other hand, introduced $TRUMP through the Solana Blockchain on Friday. Despite a sharp 25.78 percent decline to $53.87 by Monday, the coin attracted significant attention due to Trump's growing involvement in crypto ventures, including World Liberty Financial.
According to the official website, 80 percent of the $TRUMP coin’s supply is held by CIC Digital LLC an affiliate of The Trump Organization and Fight Fight Fight LLC.
The TRUMP coin, as well as wife Melania Trump's own official cryptocurrency, are among the topmost gainers early Monday. It remains to be seen if Trump’s oath-taking ceremony and upcoming term will result in positive developments for the crypto sector, as has been predicted by experts across the globe.
Vijay Valecha, Chief Investment Officer, Century Financial
Crypto Market Braces for Policy Shift
Trump’s return to the presidency has reignited interest in digital assets, with investors anticipating favorable regulations and executive orders to support blockchain innovation and crypto adoption.
The president-elect has openly promised to be the “crypto president,” aiming to position the U.S. as the global leader in digital finance. Expectations include the establishment of a strategic Bitcoin reserve and regulatory rollbacks to encourage growth in the sector.
What’s Next for Bitcoin?
With Trump set to take office at 17:00 GMT, any announcements regarding monetary policy or crypto-specific initiatives could propel Bitcoin and other digital assets to new highs.
If Trump makes any announcements regarding rate cuts or makes any pro-crypto move, BTC and other coins are naturally expected to rally as well.
Vijay Valecha
Whether the Trump administration will deliver on its crypto-friendly agenda remains to be seen, but for now, investor sentiment appears to be in full rally mode.