The price of bitcoin surged to over $109,000 early Monday, just hours ahead of President-elect Donald Trump’s inauguration, as a pumped up cryptocurrency industry bets he'll take action son after returning to the White House.

Donald Trump's newly-created cryptocurrency soared on Monday to nearly $12 billion in market value, drawing in billions in trading volume, while bitcoin hit a record high just hours ahead of the U.S.

Bitcoin crossed the $109,000 dollar mark early Monday morning to notch a new all-time high. It kicks off a week that is sure to be volatile as President Trump enters the White House for the second time,