Bitcoin price today in USD: Impact of Donald Trump’s swearing-in ceremony: Bitcoin price reaches record peak; Trump Coin and Crypto Mania Take Over the US Market
The world’s largest cryptocurrency has risen since Trump won the presidential election in November, with Bitcoin exceeding $100,000 for the first time in early December.
This came after cryptocurrency supporter Paul Atkins was nominated to head the US securities regulator, boosting optimism that the new president will deregulate the sector.
Despite calling cryptocurrencies a “scam,” Trump changed his stance and was a vocal advocate during his election campaign.
When Bitcoin reached the historic level of $100,000, Trump wrote on Truth Social: “Congratulations Bitcoiners!!! $100,000!!! Welcome!!! Together, we will make America great again!”
Trump coin
Over the weekend, Trump launched his own cryptocurrency, a so-called meme coin appropriately called $TRUMP, sparking frenzied buying that sent the coin’s market value soaring to several billion dollars. “The sword,” Ipek Ozkardskaya, chief analyst at Swissquote Bank, said on Monday. “His pro-growth and deregulation policies are expected to benefit the US economy, but his tariff policies will certainly lead to higher inflation.”
The TRUMP meme coin, which is designed to capitalize on the popularity of a viral online person, movement or trend, was unveiled by the president-elect in a post on his platforms Truth Social and X – owned by fellow cryptocurrency enthusiast Elon Musk. .
Cryptocurrencies have made headlines since their inception, from their extreme volatility to the collapse of several industry giants, most notably the FTX exchange.
Bitcoin was invented in 2008 by a person or group writing under the name Satoshi Nakamoto.
It was introduced as a way to break free from mainstream financial institutions by creating a decentralized platform for transactions.
Digital currency is created — or “mined” — as a reward when powerful computers solve complex problems validating transactions made on an interference-resistant ledger known as a blockchain.
Bitcoin has long been criticized for being the currency of choice for making untraceable payments on the so-called dark web, a hidden part of the internet used for criminal activities.
Assets have also been attacked to facilitate money laundering and allow extortion through ransomware attacks. Its carbon footprint has also come under scrutiny because mining cryptocurrencies requires huge amounts of energy.
Frequently asked questions
Q1. What is the name of Trump’s currency?
A1. Donald Trump’s name is $TRUMP meme coin.
Q2. Who invented Bitcoin?
A2. Bitcoin was invented in 2008 by a person or group writing under the name Satoshi Nakamoto.
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