As the United States gets ready to welcome pro-crypto President-elect Donald Trump, Bitcoin hit its highest point ever at $109,241. Monday saw a 5.5% increase in the original cryptocurrency, setting a new record. The token’s increase followed the weekend’s announcement of meme coins by Trump and his wife Melania, with Trump’s quickly rising to a market valuation of almost $15 billion before plummeting.
Executives in the industry criticized the meme coins for momentarily upsetting the digital asset market by stealing flows from Bitcoin and smaller tokens. As traders counted down the hours before Trump regains control of the White House, Bitcoin, Ether, the second-ranked token, and XRP all saw sharp increases on Monday morning in London.
His consideration of an executive order making the asset class a “national priority” was previously reported by Bloomberg News.
As retail traders wait for the Republican to “prioritize and reaffirm his commitment to the crypto industry,” the meme coins that Trump and his team launched have further increased the momentum of Bitcoin. said Hashkey Global’s managing director, Ben El-Baz.
