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Bitcoin surpasses its record high ahead of Trump's inauguration

The digital asset reached a capitalization of $109,241 before the president-elect, a staunch advocate of cryptocurrencies, is sworn in.

BitcoinCordon Press.

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Coinciding with Donald Trump's inauguration day, bitcoin hit an all-time high. The market's most famous digital asset broke its record and stood at $109,241, achieving a 5.5% appreciation over the previous record.

This new record was achieved at around 00:30 ET. An hour later, the bitcoin price suffered a slight plunge, to $107,765.

In recent months, thanks in part to Trump's support for the cryptocurrency sector, bitcoin has been soaring in value. It was at the beginning of December - with the appointment of Paul Atkins as chairman of the Securities and Exchange Commission (SEC) - when the price of the digital asset surpassed, for the first time, the barrier of $100,000.

During the election campaign, Trump promised to turn the United States into "the crypto-capital of the planet and the bitcoin superpower of the world." He also, in a moment that went viral, paid his bar tab using cryptocurrencies.

This news comes shortly after Trump and his wife, Melania Trump, launched their own cryptocurrencies -called $TRUMP-; an asset that reached a price of $15,000 in its first hours of life.

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