Bitcoin hit a brand new all-time excessive above $109,000 forward of the inauguration of Donald Trump on Monday, as investor optimism grows that the incoming president will undertake insurance policies that profit the crypto market.

The bitcoin worth surge got here because the president-elect and his spouse Melania every launched meme coins over the weekend, including to the notion that the arrival of the new administration will likely be a optimistic growth for crypto traders.

Bitcoin was buying and selling at round $103,000 just lately, after shifting as excessive as $109,300 in a single day. The digital foreign money has gained practically 50% because the early-November election, with a renewed surge in latest days amid hopes that Trump may quickly announce crypto-related measures. Trump made no point out of bitcoin or cryptocurrency throughout his inaugural handle.

Flows into spot bitcoin exchange-traded funds have underscored the optimism about bitcoin. On Friday alone, spot ETFs attracted a web $975.6 million, in keeping with Farside Traders.

In the meantime, the chances of Trump establishing a national bitcoin reserve in 2025 elevated from 39% to 65% over the previous week, in keeping with prediction market Polymarket.

On Sunday, the president-elect famous that bitcoin’s surge to new all-time highs after the election has been a part of a better «Trump impact» on markets. Through the presidential marketing campaign, Trump made various guarantees that might be beneficial to the crypto industry.

Solana, which is the crypto community the place the TRUMP and MELANIA meme cash have been launched, additionally reached a brand new all-time excessive over the weekend.

The TRUMP meme coin has been a wild experience for speculators up to now, with its market capitalization standing at slightly below $10 billion on Monday morning. The meme coin noticed a 44% drop in lower than an hour on Sunday across the time of the launch of the MELANIA meme coin.

UPDATE: This text has been up to date with a reference to Trump’s inaugural handle and the newest worth of bitcoin.