Cryptocurrency rallies have been sparked by the Trump family’s entry into the market.
As early trading began, bitcoin reached a record $109,071.86.
During the time Trump was sworn in for his second term, Donald Trump’s new cryptocurrency, $TRUMP, soared to over $10 billion in value.
It was a unique move by Trump to introduce “meme coins” ahead of his inauguration, generating billions in trading volume.
What prompted Trump to enter the cryptocurrency market?
TRUMP, which is promoted as a representation of Trump’s values and views, has taken off rapidly. Supporters have gathered around the coin as a show of loyalty, and its branding features images associated with Trump’s July assassination attempt. The Trump Organization has quickly clarified that $TRUMP is not a security or investment, advising participants to view it more as a symbol of support than a financial instrument.
(Newsroom staff only edited this story for style from a syndicated feed)
