How has Bitcoin performed since Trump took office?

Las Vegas, Nevada, will host the largest Bitcoin conference in the world on May 27 and 29.

Donald Trump’s circle, including Vice President JD Vance, Donald Trump Jr. and Eric Trump, as well as White House crypto tsar David Sacks, are speakers at this year’s event.

Trump’s favorable opinion of cryptocurrency and his family’s significant involvement in it are raising questions about how well-intentioned he is as president of the United States is.

How has Bitcoin fared under Trump?

Bitcoin increased by 2.6 percent from its previous Inauguration Day peak of $109, 114 over the past week to reach its all-time high of $ 111, 970.

Bitcoin has increased 60% since Donald Trump’s re-election in November 2024, from its previous high of $ 69,539 at the close of the election to its current record high.

On February 25, the cryptocurrency briefly fell below $90,000 due to market jitters brought on by Trump’s announcement of new tariffs for various global economies and industries before recovering.

What regulations did the Biden administration use?

Government policy on cryptocurrency was erratic during the Biden administration, with Gary Gensler, the then SEC chair, taking the place of many lawsuits against crypto companies. Major moves were also made to adopt cryptocurrency, with the SEC approving 11-spot Bitcoin ETFs in January 2024.

Following the demise of the Bahamas-based cryptocurrency exchange FTX in 2022 and the regional banking crisis in the early 2023, the crypto market experienced significant drawdowns. The Federal Reserve Board issued statements to banks regarding the risks of crypto assets, which it recently pulled.

What crypto policies does Trump have in mind?

Trump and other lawmakers have benefited from the crypto industry’s significant political influence.

Under the Trump administration, the US Senate passed significant pro-crypto legislation, including the establishment of the Strategic Bitcoin Reserve and the Digital Asset Stockpile, which seek to maintain control of the Bitcoin seized as part of “criminal or civil asset forfeiture proceedings.”

Trump’s cryptocurrency policies included appointing pro-crypto individuals to important regulatory positions, such as replacing Paul Atkins as SEC chair.

Investors’ optimism over a more crypto-friendly administration and proposed regulatory changes to lower entry barriers to the crypto asset markets are largely to blame for the most recent rise in Bitcoin.

Bitcoin has a maximum supply of 21 million coins, compared to fiat currencies. In light of this, the White House has stated that being one of the first nations to establish a strategic Bitcoin reserve is advantageous.

What if there was a country for Bitcoin?

With a market capitalization of roughly $ 2.18 trillion and a circulating supply of roughly 19.87 million BTC, Bitcoin is priced at $11, 000.

By gross domestic product (GDP), Bitcoin would rank roughly in the top 10 worldwide, on par with nations like Brazil ($2.17 trillion), Canada ($2.14 trillion), or Russia ($2.02 trillion).

What rules and codes of conduct govern government involvement in cryptography?

Trump introduced the $TRUMP meme coin at a Crypto Ball in Washington, DC just before taking office. Although meme coins are frequently made as a joke and subject to fluctuating price movements, Trump’s coin has benefited wealthy investors.

At his opulent golf course in Northern Virginia last week, President Trump hosted top investors for a cryptocurrency project. According to the top 25 spending more than $111 million, according to crypto intelligence firm Inca Digital, according to the Reuters news agency, investors estimated to have spent $ $ 148 million to secure seats at the dinner.

Trump spoke at the event behind a podium with the presidential seal, despite the White House insisting that he would be speaking at the event “in his personal time.”

When Trump’s meme coin was first introduced, its value initially rose before falling while its creators, which include a group connected to the Trump Organization, earned hundreds of millions in trading fees.

The Trump family has a stake in World Liberty Financial, a 2024-founded cryptocurrency company, as well as First Lady Melania Trump’s coin.

Source: Aljazeera