PANews reported on January 20 that according to The Block, in his last speech before taking office, US President-elect Donald Trump attributed the stock market surge and Bitcoin's recent record highs to himself. Donald Trump said at the rally: "You have seen results that no one expected. Since the election, the stock market has soared and small business optimism has soared 41 points to a 39-year high. Bitcoin has broken record highs again and again. This is the Trump effect."

Over the past year, the US stock market has continued to rise, reaching a high in early December, shortly after the election. The S&P 500 reached a peak valuation of 6,090 points on December 11, while the Nasdaq reached a high of 20,204 points on December 16. As for Bitcoin, it also peaked in early December, setting an all-time high of $107,000 on December 17. In the following weeks, it fell to $90,000 before rebounding to over $100,000. However, in the past few hours - with the launch of MELANIA - the price of Bitcoin has fallen below $10,000.

His speech came hours after his wife, Melania Trump, launched her own meme coin, MELANIA, with a fully diluted valuation of $5 billion (with a market cap of about $500 million, given that only 10% of the supply is currently in circulation). However, this came at a cost, drawing attention and money from Donald Trump’s own meme coin, Official Trump, which has almost halved in value. Official Trump was launched on January 17 and had a market cap of $14.5 billion at one point — a fully diluted valuation of $72 billion — before falling dramatically to its current market cap of $8.8 billion. Trump did not mention his meme coin or Melania’s in his speech, nor did he mention the resulting drop in the price of Bitcoin.