Bitcoin value hit a historic high on Monday, just hours before Donald Trump was inaugurated as the US President. On Monday itself, Bitcoin’s value spiked to an impressive $109,350 before falling slightly below $105,000.

In the weeks leading up to his re-assumption of office, President Trump has frequently mentioned cryptocurrencies. The week before the inauguration saw a significant increase in Bitcoin’s popularity, fueled by rumors that Trump might declare a Bitcoin-related executive order.

Reports suggest that Trump intends to ease cryptocurrency regulations, a move that could encourage its uptake.

The significant rise in Bitcoin’s price came in the wake of two new meme coins introduced by the Trumps, aptly named $TRUMP and $MELANIA. The Trump coin was launched on Friday, January 17, with Melania’s coin appearing a few days later. Both are based on the Solana blockchain.

Meme coins are essentially digital currencies that draw inspiration from different facets of internet culture. While they are not typically seen as possessing inherent value, they can be bought, sold, and their prices can fluctuate.

Dogecoin (DOGE), the most well-known meme coin, was initially intended as a joke but has received substantial endorsement from Elon Musk. Dogecoin has also seen a surge in its value, currently standing at $0.36 – over half of its highest-ever value of $0.64, which it achieved in May 2021 following the GameStop squeeze.

As for Bitcoin, we will have to wait to see if this upward trend continues or if the digital currency stabilizes after its recent spike.

For those interested in Bitcoin and other cryptocurrencies, it is essential to remember that while the market can be volatile, it also presents exciting opportunities. Just like any investment, it is crucial to conduct thorough research and consider all factors before diving in.