The cryptocurrency bitcoin hit a new record today ahead of Donald Trump’s inauguration as US president, briefly trading at $109,000 before falling back to around $107,500.
Trump is expected to promote the status of cryptocurrencies during his term in office.
Over the weekend, Trump launched his own cryptocurrency, the estimated value of which quickly skyrocketed to tens of billions of dollars. On Sunday, a cryptocurrency named after Trump’s wife, Melania , also went on the market, which also rose sharply in price.