- On Trump’s inauguration day, his crypto venture “World Liberty Finance” bought $47 million in Wrapped Bitcoin (WBTC) just before he swore the Presidential oath
- Over the weekend, Trump and Melania launched their own memecoins, sparking excitement and criticism in the altcoin market
- Bitcoin hit a new all-time high of $108,899 but later retracted to $103,512
On the same date that Donald Trump took office as the 47th President of the United States—the Republican’s crypto venture company “World Liberty Finance” purchased a major amount of Wrapped Bitcoin.
According to data from Arkham Intelligence, WorldLibertyFi acquired $47 million in WBTC, a Bitcoin-pegged currency in the Ethereum Blockchain. This major acquisition happened only hours before Trump swore the Presidential oath in Washington DC.
This was only one of the many crypto movements done by the Trump family over the last 3 days.
On Saturday, Trump shocked the altcoin market by launching the official Trump memecoin. A day later, it was the First Lady’s turn to launch her own memecoin. Both currencies have skyrocketed in value, a feat celebrated by many, but some investors argue that the Presidential memecoins have taken liquidity away from other altcoins.
Bitcoin Reaches New ATH
Perhaps pumped by the Presidential inauguration, the world’s largest crypto by market capitalization reached new highs this Monday. According to data from CoinMarketCap, Bitcoin hit $108,899 this morning, marking the highest-ever value the currency has ever recorded.
This newfound ceiling was short-lived, however. Since then, BTC has retracted back to $103,512, down 2.10% in the day as of right now. Despite this setback, the fact that Bitcoin buyers were able to elevate the ATH value today makes for a significant development for the crypto market.
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