Bitcoin (BTC) surged to a new all-time high prior to the swearing-in of President Donald Trump, who has promised to embrace the crypto industry.
Bitcoin hit a new all-time high of $108,786 on Sunday amid high hopes of digital asset investors that Trump will roll out pro-crypto policies soon after taking office.
Trump, who has been dubbed the first “crypto president,” was officially sworn into office Monday as the 47th US president around noon Eastern time.
Since tagging a new all-time high, Bitcoin has retraced, currently trading for $101,517 at time of writing and down 3% in the last 24 hours.
Amid the Trump hype, crypto data aggregator CoinGecko has rolled out a new token category titled “Made in USA,” which includes tokens such as Trump’s official memecoin Official Trump (TRUMP), payments altcoin XRP, Ethereum (ETH) competitor Solana (SOL) and stablecoin USDC.
The market cap of the tokens developed in association with blockchain projects headquartered in the US totals $473 billion, according to CoinGecko.
Last week, The New York Post, citing anonymous sources, reported that Trump is “receptive” to the idea of a national strategic reserve with Solana, XRP and USDC.
Trump has met with Ripple’s chief executive Brad Garlinghouse and chief legal officer Stuart Alderoty as well as with the “founders” of Solana and USDC, according to the report.
Circle, the firm that issues USDC, contributed $1 million worth of the stablecoin to Trump’s inaugural committee earlier this month.
XRP is trading for $3.13 at time of writing, down 1% in the last 24 hours. Meanwhile, Solana is trading for $239, down 10.8% on the day.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Generated Image: Midjourney
Read the full article here
