The Bitcoin climbed to a new record, as o Donald Trump is set to be sworn in as US president for a second term, after a weekend in which his own newly launched digital currency upset the stock market cryptocurrenciesaccording to the Bloomberg agency.

In particular, Bitcoin gained as much as 5.5% to $109,241 on Monday. The rally came after Trump and his wife Melania introduced their memecoins, with Trump’s reaching a market cap of more than $15 billion on Sunday before falling sharply.

Bitcoin and other major cryptocurrencies such as Ether and XRP rose sharply on Monday as traders counted down the hours until Trump regained control of the White House. Bloomberg previously reported that it is considering issuing an executive order designating the asset class as a “national priority.”

Trump became a staunch supporter of the digital asset industry on the campaign trail after once calling Bitcoin a scam. He has pledged to make the US the world’s crypto capital through policies that include the creation of a strategic Bitcoin reserve.