Bitcoin Hits Record High as Trump Returns to White House, Launches $TRUMP Coin

Bitcoin Soars Past $108,000 Amid Pro-Crypto Sentiments

Bitcoin surged to an all-time high of over $108,000 on Monday morning as President-elect Donald Trump prepared to re-enter the White House. The cryptocurrency rally coincided with the launch of Trump’s and Melania Trump’s meme coins, $TRUMP and $MELANIA, which took the crypto world by storm over the weekend.

The Trumps’ meme coins gained massive traction, with $TRUMP seeing an 18,000% rise in its first 24 hours, propelling its market capitalization to $5.5 billion. Meanwhile, Melania's $MELANIA coin quickly stole the spotlight, briefly causing $TRUMP’s value to dip below $8 billion.

Crypto Buzz Fuels Market Optimism

Donald Trump introduced $TRUMP as a symbol of "winning" on his Truth Social platform, while Melania Trump launched $MELANIA on Elon Musk’s X, urging fans to invest. Both coins have been labeled as symbolic rather than financial instruments, but their explosive growth has sparked speculation.

Susannah Streeter, head of markets at Hargreaves Lansdown, described Bitcoin’s meteoric rise as a reflection of "Trump’s pledge to make the US the Bitcoin capital of the world." The president-elect’s promise to champion crypto regulation and innovation has fueled optimism within the crypto community.

However, critics warned that the Trumps’ ventures could tarnish cryptocurrency’s credibility. Nick Tomaino, a crypto venture capitalist, called the meme coin launches "predatory," cautioning investors about the volatility and lack of intrinsic value in such assets.

Meme Coins: A Controversial Trend

While some view the launches as a step toward legitimizing crypto in mainstream politics, others, like Rob Hadick of Dragonfly Capital, argue that meme coins undermine serious crypto projects. Streeter urged caution: “Although institutional interest adds legitimacy, Bitcoin remains a volatile asset with a history of steep declines after dramatic climbs.”

As Trump’s inauguration approaches, the world will be watching to see how his pro-crypto administration shapes the regulatory and financial landscape.

As Bitcoin breaks barriers and the Trump coins dominate discussions, the crypto market is on fire. While the opportunities seem endless, investors are reminded to tread carefully in this volatile yet thrilling landscape. Stay tuned as the crypto revolution unfolds with Trump’s second term.