As Trump gets ready to take the oath of office as US president, Bitcoin reaches a record high of almost $109,000.

Bitcoin reached its highest point ever, $109,241, as US President-elect Donald Trump gets ready to take office.

Ahead of US President-elect Donald Trump taking office on January 20, 2025, Bitcoin reached a new high on Monday, surpassing $109,000.

The value of the coin was $108,217.5600 at 1 pm IST. This was a 4.50% increase, or $4,661.28, based on statistics from Bloomberg. But right before this, its highest point was $109,241.

Additionally, Trump and his wife Melania have shown their support for the cryptocurrency sector by issuing cryptocurrencies or "meme coins" with their names, $TRUMP and $MELANIA, respectively.

According to CoinMarketCap data, $TRUMP increased 352.44% to reach $0.005567 at 1 pm IST, while $MELANIA increased 69.32% to reach $12.41.

Other cryptocurrencies also saw this effect, with Ethereum, the closest rival to Bitcoin, increasing by 3.54% to $3,384.20.