Bitcoin has surged 60 percent since Donald Trump took office in November 2024, reaching current highs of $111,000. The world’s largest Bitcoin conference is taking place in Las Vegas from May 27-29, featuring speakers from Trump’s circle, including Vice President JD Vance and White House crypto tsar David Sacks.
Since Trump’s re-election, Bitcoin has seen a significant increase, rising from around $69,539 to its current record level. The cryptocurrency briefly dropped below $90,000 in February due to market jitters triggered by Trump’s announcement of new tariffs on multiple countries. However, it has since recovered and reached an all-time high of $111,970.
In contrast, the Biden administration had a mixed approach to cryptocurrency policy. During this time, there were lawsuits brought against crypto firms and moves to adopt cryptocurrency. The SEC approved 11 spot Bitcoin ETFs in January 2024. However, Trump’s administration has rescinded many of these policies, including appointing pro-crypto figures to key regulatory roles.
Trump’s crypto policies include appointing officials who support the industry, such as Paul Atkins as the new SEC chair. The White House has also stated that creating a strategic Bitcoin reserve could have a strategic advantage. If Bitcoin were a country, it would be a major economic powerhouse, with a market capitalization of over $2 trillion.
The Trump family’s involvement in cryptocurrency is also worth noting. The President launched his own meme coin, which allowed top investors to access him. Critics have raised concerns about conflicts of interest and the potential for policy changes to benefit Trump’s personal gains.
Source: https://www.aljazeera.com/news/2025/5/28/how-has-bitcoin-performed-since-trump-took-office