Bitcoin jumps to new record above $109,000 as traders cheer Trump inauguration, meme coins
Bitcoin jumped above $109,000 as traders eagerly awaited the inauguration of incoming President Donald Trump and cheered his weekend meme coin launch.
On Monday the flagship cryptocurrency was last higher by nearly 1% at $106,622.54, according to Coin Metrics. Earlier, it rose as high as $109,350.72, after briefly dipping below the $100,000 mark Sunday.
Bitcoin hits a new record ahead of Trump inauguration
Over the weekend, Trump launched the "Official Trump" meme coin, which has risen to a $10.6 billion market cap and surged more than 659% since Friday night, according to data from CoinGecko and Coinbase. On Monday it was down about 27% from its record price of around $73 a coin, after returning First Lady Melania Trump launched her own "Melania" meme coin Sunday — nearly halving the Trump coin in value at one point.