Bitcoin (BTC) Hits a New Record High, Exceeding $109K Amid Trump’s Inauguration

On Monday, Bitcoin (BTC) achieved a new all-time high, exceeding $109,000 just before Donald Trump’s inauguration. The surge helped push the total cryptocurrency market cap to $3.95 trillion, a $484 billion increase in value during the same period.

Since Trump’s victory in the presidential election in early November, Bitcoin has risen nearly 60%. Notably, it surpassed the $100,000 mark for the first time in early December.

BTC Hits All-Time High

According to CoinMarketCap data, the largest cryptocurrency by market capitalization set a new all-time high, reaching $109,114 just hours before Trump’s inauguration. However, it later corrected, hovering around $103,500 at press time.

Moreover, Bitcoin’s trading volume saw a sharp rise, increasing by more than 100% and surpassing $140 billion in the past 24 hours. Meanwhile, the memecoin sector also mirrored BTC’s surge.

Memecoin Competition Intensifies Ahead of Trump’s Inauguration

In a separate development, ahead of Trump’s inauguration, he introduced a memecoin named TRUMP. The announcement sparked a buying frenzy, driving its market cap into the billions. The token was unveiled in posts on Truth Social and X.

Similarly, Melania Trump unveiled her memecoin, MELANIA. While marketed as a means of “support” and “engagement,” MELANIA’s website clarifies that it is “not intended” as an investment vehicle.

CoinTab’s recent report noted a significant drop in TRUMP’s value following MELANIA’s release. It fell by over 40%, from $74.6 to $43. As a result, TRUMP lost around $5 billion in market value.

Substantial Profits From MELANIA Token

Meanwhile, Melania Trump and her husband helped drive the success of MELANIA by promoting it on X, resulting in over 45,000 wallets purchasing the token, according to DEXScreener data. MELANIA’s website states that 35% of the tokens were allocated to the project team, with the remaining distribution split between the treasury, community, public, and liquidity.

Notably, MELANIA holders have seen substantial profits. One wallet invested around $560,000 (2,100 SOL) in 1.52 million MELANIA tokens and later sold them for $11.5 million (46,453 SOL), making a profit of approximately $11 million. Another wallet spent 800,000 USDC on 3.84 million tokens and later profited $36.5 million after selling part of them.