Amid the buzz surrounding the Trump and Melania memecoins, Bitcoin(BTC) has quietly surged to a new all-time high (ATH) of $109,114.88. Although it has slightly retreated since reaching this milestone, El Salvador, the world’s first country to adopt a Bitcoin Reserve continues to be a strategic hodler with BTC holdings now valued at over $655 million.
Bitcoin’s New ATH
The weekend saw significant noise around Donald Trump’s upcoming presidential inauguration and the launch of his memecoin, $TRUMP, followed by Melania Trump’s $MELANIA. However, in the midst of this commotion, Bitcoin steadily climbed to its new ATH. Currently, it has retraced to $107,426.59, still up 2.23% from the previous day’s value.
BTC’s 24 hour market volume has also gone up by 118% to $109.44 billion. The market cap of Bitcoin is at $2.12 trillion, as it continues to be the seventh most valued asset in the world.
El Salvador and Bhutan’s Bitcoin Holdings
El Salvador continues to strengthen its Bitcoin reserve, recently adding 11 BTC worth $1.1 million. This brings the country’s total holdings to 6,043 BTC, with their value climbing 3.29% to $655.93 million amidst the latest price surge.
Meanwhile, Bhutan holds an impressive 11,055 BTC, valued at $1.20 billion. These figures highlight the growing role of sovereign nations in the Bitcoin ecosystem.
Bitcoin Surge Ahead of Trump’s Oath Ceremony
The Trump family’s second venture into crypto with $TRUMP and $MELANIA has already sparked mixed reactions, with expectations of further momentum as Trump’s inauguration approaches. However, the launch of these memecoins has caused a slight dip in several altcoins, reflecting a shift in market dynamics.
Despite the memecoin frenzy, Bitcoin Maximalists have remained unfazed, with their focus firmly on the promise of Bitcoin’s long-term value and its role as a reserve asset under Trump’s administration team.
Also Read: Corporate Treasury Demand for Bitcoin Surpasses New Supply
