Alan Sudderman
Bitcoin hits an all-time high as the world’s most popular cryptocurrency reached a price level that has not been seen since President Donald Trump took office.
The digital assets were traded over $109,400 Wednesday morning. This is a huge increase from its recent low of around $75,000 last month.
Several other cryptocurrencies have seen similarly significant profits recently. This includes Trump’s official meme coin, which rose about 75% last month. The president is scheduled to have dinner with some of Memecoin’s biggest investors on Thursday. This is a move that has attracted intense criticism from some Democrats who say Trump inappropriately uses the power of the presidency to boost his personal wealth.
The rise in Bitcoin prices comes after the crypto industry has achieved a major victory in the US Senate Advancement Act. This has created a federal framework to regulate high-speed coins.
The bipartisan vote was a big win for the politically powerful cryptocurrency industry, spending a lot of time last year’s elections and assembled massive war chests in next year’s contest.
The former skeptic has become an avid booster, Trump is a leading promoter in the crypto industry, and previously gained credibility in December when Bitcoin price broke $100,000. His administration established a “strategic Bitcoin Reserve” for the US government, repealing or suspending several enforcement measures against major crypto companies.
Original issue: May 21, 2025, 12:24pm EDT
