Bitcoin Price Hits New All-Time High as Donald Trump Takes Office

Key Takeaways:

• Bitcoin surged to an all-time high of $109,114 as Donald Trump prepares to take office.
• Donald and Melania Trump launched $TRUMP and $MELANIA memecoins, signaling growing support for digital assets.
• The new meme coins have received mixed reactions from the global crypto community.

The Bitcoin price hit a record high of $109,114 in the early hours of January 20, as Donald Trump, the first US president to endorse cryptocurrency, was getting ready to take office as the 47th president of the United States.

Bitcoin Price Reaches a New All-Time High

Bitcoin (BTC) quickly increased from about $103,000 to a high of $109,114 in less than 10 minutes. This spike happened as the global crypto community anticipates favorable cryptocurrency regulations in America, with many experts believing that things will improve under the new administration.

Additionally, there are speculations that the “crypto president” will sign executive orders to encourage the broad use of digital assets. Investors also expect Trump to create a US Bitcoin reserve that may include other US-based cryptocurrencies.

These could raise the prices of Bitcoin (BTC) and other cryptocurrencies in the coming months. Experts predict Bitcoin price could reach at least $150,000 during this bull cycle under Donald Trump.

Related: Texas and Oklahoma Saddle Up to Build Historic Bitcoin Stockpiles

TRUMP and MELANIA Memecoins Launched

One of the early signs that the New Republican administration will most likely favor the crypto market is the launch of the Official Trump ($TRUMP) and the Melania Meme coin ($MELANIA), which the new President and the first lady created over the weekend.

The Official Trump Memecoin increased significantly, rising from a few cents on its launch date, January 17, to $75.35 on January 19, 2025, a jump of over 100,000% in just two days. However, the TRUMP token has experienced a 28.7% drop from its peak and is currently trading at $54.47.

At the same time, Melania Trump introduced her memecoin, the “Melania Meme,” on the Solana network on January 19, just two days after her husband's launch. This Melania coin also rose significantly, from about $0.1 to an all-time high of $13.73. It has since fallen slightly to $10.95, marking a 19.94% decrease from its peak.

Despite this drop, many early buyers of the MELANIA meme coin are likely enjoying significant profits, as it has increased by 20,307% since its launch, according to GeckoTerminal data.

“A Red Flag”

The launch of memecoins by Donald Trump and Melania Trump has received mixed reactions from the global crypto community.

Some people view the Trump family's entry into memecoins as a good thing. They see it as a sign of new ideas and different leadership in a market that is growing quickly. They believe that the industry could expand significantly as more companies, political leaders, and celebrities create their own memecoins.

On the other hand, critics think Donald and Melania Trump's actions show misplaced priorities. They expected a more serious approach to the industry. Some critics even argue that the Trumps are trying to profit personally from their political positions.

British bitcoiner and podcast host Peter McCormack, who founded What Bitcoin Did, is among those who strongly criticized their move, saying,

“Trump coin is embarrassing. It is the opposite of what you voted for.”

Oh gawd, the shitcoin idiots came out in full force for this.

— Peter McCormack 🏴‍☠️🇬🇧🇮🇪 (@PeterMcCormack) January 19, 2025

Dr. Danish also claims insiders quickly bought up the initial supply, letting them profit from the excitement while regular investors missed out.

He calls this “embarrassing” and believes leaders should be held to higher standards. He maintains that they should not engage in actions that damage public trust, even if political opponents have acted unfairly in the past.

From what I can see onchain, Trump has sold ~$500M of tokens thus far. The Trump team still controls 85% of supply pic.twitter.com/p4CcRFdrV0

— Conor (@jconorgrogan) January 18, 2025

The crypto community is particularly worried about the TRUMP memecoin's tokenomics. Experts have pointed out that Trump’s team controls up to 85% of the supply, which raises serious concerns.

Related: Toncoin Price Outlook: TON Is Gearing Up for a Bullish Breakout