A new era in crypto: what's happening with Trump's meme coin and why is Bitcoin rising in value?

It seems that Trump has changed his stance on cryptocurrencies, as he stated before the U.S. elections that he would make the United States the "crypto capital of the world." Interestingly, Trump's initial steps toward promoting the crypto market were taken even before his inauguration and official appointment as President of the United States. Experts suggest that Trump will continue to push the crypto agenda. "He has declared and is likely to try to implement the expansion of cryptocurrency usage, popularize the crypto market, and there’s also the separate issue of forming U.S. reserves in crypto assets. I'm not sure about that, but since a loyal person is being appointed to the Treasury, a lot will indeed be realized for the development of the crypto market and cryptocurrencies," says financial analyst Andrey Shevchishin.

Meanwhile, as reported by Reuters, the market value of the cryptocurrency created by Donald Trump surged to nearly $12 billion on Monday, attracting billions in trading volume, while Bitcoin reached a record high just hours before the newly elected U.S. president returned to the White House.

According to CoinMarketCap, the meme coin $Trump, launched on January 17, skyrocketed to $58.56, giving it a market capitalization of approximately $11.7 billion and placing it 18th among the largest cryptocurrencies.

Financiers and crypto analysts are currently somewhat concerned about the entry of Trump's new meme coin into the crypto arena. "While there is a temptation to dismiss this as yet another Trump spectacle, the launch of the official Trump token opens a Pandora's box of ethical and regulatory questions," — quotes Reuters Justin D'Aneatan, an independent crypto analyst from Hong Kong. In her opinion, the coin "blurs the lines between governance, profit, and influence." Meanwhile, according to Peter Schiff, Chief Economist and Global Strategist at Euro Pacific Asset Management, the surge in $TRUMP's value is akin to a new digital gold.

Previously, as journalists from Reuters remind us, Trump promised to become the "president of cryptocurrencies" and is expected to issue executive orders aimed at reducing barriers related to cryptocurrency regulation and promoting the widespread adoption of digital assets.

Donald Trump's inauguration day not only impacted the popularity of his meme coin — Bitcoin also showed significant gains. As reported by the British publication The Standard, the price of Bitcoin surpassed $109,000, marking another historical high after rising more than 7%, as traders demonstrated support for the Trump administration, which is friendly to cryptocurrency.

Let us remind you that on January 20, 2025, Donald Trump will become the 47th president of the United States and will immediately begin to fulfill his duties after the inauguration in Washington.